Invesco China Technology ETF (NYSEARCA:CQQQ) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Invesco China Technology ETF (NYSEARCA:CQQQ) saw strong trading volume on Friday . 511,602 shares changed 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 Down 3.1 %

The firm’s fifty day simple moving average is $45.32 and its 200-day simple moving average is $41.80. The firm has a market capitalization of $1.01 billion, a PE ratio of 25.67 and a beta of 0.51.

Hedge Funds Weigh In On Invesco China Technology ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Formidable Asset Management LLC increased its holdings in Invesco China Technology ETF by 7.9% in the 4th quarter. Formidable Asset Management LLC now owns 16,115 shares of the company’s stock worth $635,000 after buying an additional 1,176 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Invesco China Technology ETF by 15.6% during the 4th quarter. Bank of America Corp DE now owns 23,133 shares of the company’s stock valued at $911,000 after acquiring an additional 3,118 shares during the last quarter. Comerica Bank bought a new stake in shares of Invesco China Technology ETF in the fourth quarter worth approximately $101,000. Renaissance Technologies LLC purchased a new position in shares of Invesco China Technology ETF during the fourth quarter valued at approximately $599,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of 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 valued at $394,000 after purchasing an additional 403 shares during the last quarter.

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).