Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Strong Trading Volume – Still a Buy?

Invesco China Technology ETF (NYSEARCA:CQQQ) shares saw an uptick in trading volume on Tuesday . 280,085 shares changed hands during trading, a decline of 18% from the previous session’s volume of 341,694 shares.The stock last traded at $49.59 and had previously closed at $50.04.

Invesco China Technology ETF Stock Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.67 and a beta of 0.51. The firm has a fifty day moving average price of $43.77 and a 200-day moving average price of $40.92.

Institutional Trading of Invesco China Technology ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Formidable Asset Management LLC raised its position in Invesco China Technology ETF by 7.9% in the fourth quarter. Formidable Asset Management LLC now owns 16,115 shares of the company’s stock valued at $635,000 after purchasing an additional 1,176 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Invesco China Technology ETF by 15.6% in the fourth quarter. Bank of America Corp DE now owns 23,133 shares of the company’s stock valued at $911,000 after buying an additional 3,118 shares during the period. Comerica Bank acquired a new stake in shares of Invesco China Technology ETF in the fourth quarter valued at about $101,000. Renaissance Technologies LLC acquired a new stake in Invesco China Technology ETF during the fourth quarter worth approximately $599,000. Finally, Envestnet Asset Management Inc. grew its stake in Invesco China Technology ETF by 4.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 9,994 shares of the company’s stock worth $394,000 after purchasing an additional 403 shares during the period.

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).