Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Reaches New 52-Week High – Still a Buy?

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $127.81 and last traded at $127.55, with a volume of 10537 shares changing hands. The stock had previously closed at $123.39.

Invesco Dorsey Wright Technology Momentum ETF Stock Up 5.2%

The stock has a market capitalization of $685.29 million, a price-to-earnings ratio of 32.05 and a beta of 1.64. The company has a 50 day moving average of $104.36 and a 200 day moving average of $90.18.

Hedge Funds Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 108.1% during the first quarter. Jane Street Group LLC now owns 24,668 shares of the company’s stock worth $1,454,000 after acquiring an additional 329,668 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 107.5% during the second quarter. Ameriprise Financial Inc. now owns 212,785 shares of the company’s stock worth $14,602,000 after acquiring an additional 110,228 shares during the last quarter. Paller Financial Services Inc acquired a new stake in Invesco Dorsey Wright Technology Momentum ETF during the fourth quarter worth about $5,948,000. IMC Chicago LLC increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 259.9% during the fourth quarter. IMC Chicago LLC now owns 21,104 shares of the company’s stock worth $1,614,000 after acquiring an additional 34,299 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in Invesco Dorsey Wright Technology Momentum ETF by 317.5% during the third quarter. Private Advisor Group LLC now owns 35,281 shares of the company’s stock worth $2,640,000 after acquiring an additional 26,830 shares during the last quarter.

About Invesco Dorsey Wright Technology Momentum ETF

PowerShares Dynamic Technology Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Technology Sector Intellidex Index (the Index). The Index consists of stocks of the United States technology companies. These are companies that are principally engaged in the business of providing technology-related products and services, including computer hardware and software, Internet, electronics and semiconductors, and communication technologies.