Invesco China Technology ETF (NYSEARCA:CQQQ) Shares Gap Down – Here’s Why

Invesco China Technology ETF (NYSEARCA:CQQQ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $56.99, but opened at $54.73. Invesco China Technology ETF shares last traded at $54.73, with a volume of 224,134 shares.

Invesco China Technology ETF Stock Performance

The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 20.61 and a beta of 0.60. The company has a fifty day simple moving average of $52.89 and a two-hundred day simple moving average of $52.15.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Uhlmann Price Securities LLC lifted its position in Invesco China Technology ETF by 1.5% during the fourth quarter. Uhlmann Price Securities LLC now owns 13,477 shares of the company’s stock worth $701,000 after purchasing an additional 203 shares during the period. JPMorgan Chase & Co. increased its holdings in Invesco China Technology ETF by 1.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,783 shares of the company’s stock valued at $1,229,000 after buying an additional 424 shares during the period. J. Safra Sarasin Holding AG raised its position in shares of Invesco China Technology ETF by 2.3% in the 4th quarter. J. Safra Sarasin Holding AG now owns 18,760 shares of the company’s stock valued at $976,000 after buying an additional 430 shares in the last quarter. Heritage Wealth Advisors acquired a new position in shares of Invesco China Technology ETF in the 4th quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC bought a new stake in shares of Invesco China Technology ETF during the 4th quarter worth approximately $34,000.

About Invesco China Technology ETF

Guggenheim China Technology ETF (the Fund), formerly Claymore China Technology ETF, seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the AlphaShares China Technology Index (the Index). The Fund will invest at least 80% of its total assets in common stock, American depositary receipts (ADRs), American depositary shares (ADSs), global depositary receipts (GDRs) and international depositary receipts (IDRs) that comprise the Index and depositary receipts or shares representing common stocks included in the Index (or underlying securities representing ADRs, ADSs, GDRs and IDRs included in the Index).