Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Hits New 12-Month High – Should You Buy?

Shares of Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) reached a new 52-week high during trading on Friday . The stock traded as high as $75.13 and last traded at $75.08, with a volume of 13810 shares changing hands. The stock had previously closed at $74.10.

Invesco Dorsey Wright Technology Momentum ETF Trading Up 2.4 %

The stock has a market cap of $546.19 million, a price-to-earnings ratio of 12.47 and a beta of 1.23. The stock’s 50 day moving average is $66.48 and its two-hundred day moving average is $62.38.

Institutional Investors Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates raised its stake in Invesco Dorsey Wright Technology Momentum ETF by 58.1% during the 3rd quarter. Raymond James & Associates now owns 132,298 shares of the company’s stock valued at $8,392,000 after acquiring an additional 48,643 shares during the last quarter. Theory Financial LLC raised its stake in shares of Invesco Dorsey Wright Technology Momentum ETF by 22.3% during the third quarter. Theory Financial LLC now owns 99,014 shares of the company’s stock worth $6,361,000 after purchasing an additional 18,063 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Invesco Dorsey Wright Technology Momentum ETF by 8.2% during the third quarter. Stifel Financial Corp now owns 63,388 shares of the company’s stock worth $4,021,000 after purchasing an additional 4,791 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 49.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 58,352 shares of the company’s stock worth $3,614,000 after purchasing an additional 19,277 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Invesco Dorsey Wright Technology Momentum ETF by 179.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,863 shares of the company’s stock valued at $3,460,000 after buying an additional 35,882 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.