Invesco China Technology ETF (NYSEARCA:CQQQ) Shares Gap Down – Time to Sell?

Invesco China Technology ETF (NYSEARCA:CQQQ) gapped down before the market opened on Thursday . The stock had previously closed at $48.92, but opened at $47.06. Invesco China Technology ETF shares last traded at $47.46, with a volume of 234,767 shares changing hands.

Invesco China Technology ETF Price Performance

The firm has a fifty day simple moving average of $44.59 and a two-hundred day simple moving average of $41.24. The firm has a market capitalization of $1.04 billion, a P/E ratio of 25.67 and a beta of 0.51.

Institutional Investors Weigh In On Invesco China Technology ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position 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 valued at $394,000 after purchasing an additional 403 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Invesco China Technology ETF by 5.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 19,293 shares of the company’s stock valued at $760,000 after purchasing an additional 925 shares during the last quarter. Formidable Asset Management LLC raised its position in Invesco China Technology ETF by 7.9% during the 4th 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. Union Bancaire Privee UBP SA bought a new position in Invesco China Technology ETF during the 4th quarter valued at approximately $59,000. Finally, Comerica Bank purchased a new position in shares of Invesco China Technology ETF during the 4th quarter worth approximately $101,000.

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).