Invesco China Technology ETF (NYSEARCA:CQQQ) Shares Gap Down – Here’s What Happened

Shares of Invesco China Technology ETF (NYSEARCA:CQQQ) gapped down before the market opened on Tuesday . The stock had previously closed at $44.47, but opened at $41.99. Invesco China Technology ETF shares last traded at $41.77, with a volume of 71,491 shares trading hands.

Invesco China Technology ETF Stock Down 6.2 %

The firm has a 50 day moving average price of $41.84 and a 200 day moving average price of $36.47. The stock has a market cap of $790.40 million, a P/E ratio of 19.03 and a beta of 1.22.

Hedge Funds Weigh In On Invesco China Technology ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC lifted its position in Invesco China Technology ETF by 101.0% during the third quarter. Flow Traders U.S. LLC now owns 36,150 shares of the company’s stock valued at $1,491,000 after purchasing an additional 18,168 shares during the last quarter. DRW Securities LLC purchased a new position in Invesco China Technology ETF in the third quarter worth about $343,000. Ground Swell Capital LLC bought a new stake in Invesco China Technology ETF during the third quarter worth approximately $221,000. Private Advisor Group LLC raised its position in Invesco China Technology ETF by 19.0% during the third quarter. Private Advisor Group LLC now owns 11,273 shares of the company’s stock valued at $465,000 after purchasing an additional 1,802 shares during the period. Finally, Pictet North America Advisors SA bought a new stake in shares of Invesco China Technology ETF in the 3rd quarter valued at approximately $225,000.

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).