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

Invesco China Technology ETF (NYSEARCA:CQQQ)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $40.64, but opened at $39.25. Invesco China Technology ETF shares last traded at $39.17, with a volume of 45,707 shares.

Invesco China Technology ETF Trading Down 3.5 %

The stock has a fifty day moving average price of $40.52 and a 200 day moving average price of $36.12. The firm has a market cap of $743.22 million, a price-to-earnings ratio of 19.03 and a beta of 1.22.

Hedge Funds Weigh In On Invesco China Technology ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CQQQ. Ground Swell Capital LLC bought a new stake in Invesco China Technology ETF during the third quarter valued at about $221,000. Pictet North America Advisors SA bought a new stake in Invesco China Technology ETF during the 3rd quarter valued at approximately $225,000. DRW Securities LLC bought a new stake in Invesco China Technology ETF during the 3rd quarter valued at approximately $343,000. Hsbc Holdings PLC acquired a new stake in Invesco China Technology ETF in the 2nd quarter valued at approximately $335,000. Finally, Private Advisor Group LLC increased its position in 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 worth $465,000 after buying an additional 1,802 shares during the period.

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).