Invesco China Technology ETF (NYSEARCA:CQQQ) Shares Gap Up – Should You Buy?

Shares of Invesco China Technology ETF (NYSEARCA:CQQQ) gapped up prior to trading on Wednesday . The stock had previously closed at $38.84, but opened at $40.30. Invesco China Technology ETF shares last traded at $40.30, with a volume of 3,800 shares.

Invesco China Technology ETF Price Performance

The stock has a market cap of $764.06 million, a price-to-earnings ratio of 19.03 and a beta of 1.22. The stock’s 50 day simple moving average is $41.17 and its two-hundred day simple moving average is $36.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CQQQ. Ground Swell Capital LLC acquired a new position in shares of Invesco China Technology ETF in the 3rd quarter worth approximately $221,000. Pictet North America Advisors SA bought a new stake in Invesco China Technology ETF in the third quarter valued at $225,000. Hsbc Holdings PLC acquired a new position in Invesco China Technology ETF during the second quarter worth $335,000. DRW Securities LLC bought a new position in shares of Invesco China Technology ETF during the third quarter valued at $343,000. Finally, Private Advisor Group LLC boosted its stake in shares of Invesco China Technology ETF by 19.0% in the 3rd 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 in the last quarter.

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).