Invesco China Technology ETF (NYSEARCA:CQQQ – Get Free Report) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 932,567 shares, a decline of 71.3% from the July 30th total of 3,246,901 shares. Based on an average daily trading volume, of 558,884 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.5% of the company’s shares are sold short.
Invesco China Technology ETF Trading Up 1.7%
Invesco China Technology ETF stock traded up $0.82 during midday trading on Thursday, reaching $48.92. 366,809 shares of the stock traded hands, compared to its average volume of 1,228,715. The firm has a market cap of $2.97 billion, a PE ratio of 20.61 and a beta of 0.63. The company has a 50-day simple moving average of $52.33 and a two-hundred day simple moving average of $51.33. Invesco China Technology ETF has a 12-month low of $44.29 and a 12-month high of $61.20.
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 the business. TD Waterhouse Canada Inc. increased its position in shares of Invesco China Technology ETF by 23.8% during the second quarter. TD Waterhouse Canada Inc. now owns 8,780 shares of the company’s stock worth $500,000 after acquiring an additional 1,690 shares during the period. WIT Partners Advisory Pte. Ltd. acquired a new stake in Invesco China Technology ETF in the 2nd quarter valued at about $1,546,000. Triumph Capital Management boosted its stake in shares of Invesco China Technology ETF by 66.8% in the 2nd quarter. Triumph Capital Management now owns 3,734 shares of the company’s stock valued at $213,000 after buying an additional 1,496 shares during the period. Finley Financial LLC raised its holdings in Invesco China Technology ETF by 54.6% in the second quarter. Finley Financial LLC now owns 2,010 shares of the company’s stock valued at $115,000 after acquiring an additional 710 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Invesco China Technology ETF by 171.1% in the first quarter. Bank of America Corp DE now owns 207,995 shares of the company’s stock valued at $9,572,000 after acquiring an additional 131,260 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).
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