Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Trading Down 12.4% – Here’s What Happened

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF)’s stock price dropped 12.4% during mid-day trading on Thursday . The stock traded as low as $111.01 and last traded at $111.04. Approximately 166,554 shares traded hands during mid-day trading, an increase of 115% from the average daily volume of 77,430 shares. The stock had previously closed at $126.77.

Invesco Dorsey Wright Technology Momentum ETF Price Performance

The firm has a market capitalization of $585.24 million, a price-to-earnings ratio of 32.05 and a beta of 1.67. The business’s 50-day moving average price is $123.97 and its 200 day moving average price is $100.25.

Hedge Funds Weigh In On Invesco Dorsey Wright Technology Momentum ETF

A number of hedge funds have recently bought and sold shares of PTF. Integrated Wealth Concepts LLC lifted its holdings in Invesco Dorsey Wright Technology Momentum ETF by 74.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,050 shares of the company’s stock worth $416,000 after buying an additional 3,000 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Invesco Dorsey Wright Technology Momentum ETF by 29.0% during the first quarter. Jones Financial Companies Lllp now owns 2,203 shares of the company’s stock worth $130,000 after purchasing an additional 495 shares during the period. Jane Street Group LLC lifted 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 valued at $1,454,000 after buying an additional 329,668 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Invesco Dorsey Wright Technology Momentum ETF by 5,685.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,157 shares of the company’s stock worth $79,000 after purchasing an additional 1,137 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Invesco Dorsey Wright Technology Momentum ETF in the second quarter worth $615,000.

Invesco Dorsey Wright Technology Momentum ETF Company Profile

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.