Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Large Increase in Short Interest

Invesco China Technology ETF (NYSEARCA:CQQQ) was the recipient of a significant growth in short interest in October. As of October 30th, there was short interest totaling 2,309,726 shares, a growth of 451.8% from the October 15th total of 418,580 shares. Based on an average daily trading volume, of 1,035,443 shares, the short-interest ratio is presently 2.2 days. Currently, 5.0% of the shares of the company are sold short.

Institutional Trading of Invesco China Technology ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Invesco China Technology ETF by 23.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,218,668 shares of the company’s stock worth $470,263,000 after buying an additional 1,911,051 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Invesco China Technology ETF during the 3rd quarter valued at approximately $46,651,000. Summit Rock Advisors LP acquired a new stake in Invesco China Technology ETF in the 3rd quarter valued at $20,089,000. Evergreen Capital Management LLC acquired a new stake in Invesco China Technology ETF in the 3rd quarter valued at $10,354,000. Finally, Bank of America Corp DE increased its holdings in Invesco China Technology ETF by 171.1% in the 1st quarter. Bank of America Corp DE now owns 207,995 shares of the company’s stock worth $9,572,000 after acquiring an additional 131,260 shares in the last quarter.

Invesco China Technology ETF Price Performance

CQQQ stock traded up $0.38 during midday trading on Wednesday, hitting $39.87. 555,442 shares of the stock traded hands, compared to its average volume of 1,222,354. Invesco China Technology ETF has a 1-year low of $37.58 and a 1-year high of $58.92. The stock’s fifty day simple moving average is $43.60 and its 200-day simple moving average is $49.56. The firm has a market cap of $1.85 billion, a P/E ratio of 15.68 and a beta of 0.64.

Invesco China Technology ETF Company Profile

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).