Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Large Volume Increase – Time to Buy?

Invesco China Technology ETF (NYSEARCA:CQQQ) shares saw an uptick in trading volume on Friday . 511,602 shares traded hands during trading, an increase of 40% from the previous session’s volume of 365,154 shares.The stock last traded at $44.53 and had previously closed at $45.90.

Invesco China Technology ETF Stock Performance

The firm has a 50 day moving average of $45.22 and a two-hundred day moving average of $41.63. The stock has a market cap of $1.01 billion, a P/E ratio of 25.67 and a beta of 0.51.

Institutional Investors Weigh In On Invesco China Technology ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Union Bancaire Privee UBP SA bought a new stake in Invesco China Technology ETF in the 4th quarter valued at $59,000. Comerica Bank acquired a new stake in Invesco China Technology ETF during the fourth quarter worth about $101,000. Sycomore Asset Management increased its stake in Invesco China Technology ETF by 320.7% during the fourth quarter. Sycomore Asset Management now owns 6,100 shares of the company’s stock valued at $233,000 after acquiring an additional 4,650 shares during the period. Envestnet Asset Management Inc. raised its holdings in Invesco China Technology ETF by 4.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 9,994 shares of the company’s stock valued at $394,000 after acquiring an additional 403 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Invesco China Technology ETF during the 4th quarter worth approximately $599,000.

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).