Invesco S&P SmallCap Information Technology ETF (NASDAQ:PSCT) Reaches New 52-Week High – Still a Buy?

Invesco S&P SmallCap Information Technology ETF (NASDAQ:PSCT)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.06 and last traded at $86.56, with a volume of 73941 shares trading hands. The stock had previously closed at $86.93.

Invesco S&P SmallCap Information Technology ETF Stock Down 1.3%

The company has a market cap of $512.06 million, a PE ratio of 23.78 and a beta of 1.31. The stock’s 50 day moving average is $71.43 and its 200-day moving average is $63.75.

Institutional Investors Weigh In On Invesco S&P SmallCap Information Technology ETF

A number of hedge funds have recently bought and sold shares of PSCT. Northwestern Mutual Wealth Management Co. raised its stake in Invesco S&P SmallCap Information Technology ETF by 722.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 761,760 shares of the company’s stock valued at $43,123,000 after purchasing an additional 669,175 shares in the last quarter. IMC Chicago LLC increased its position in Invesco S&P SmallCap Information Technology ETF by 107.3% during the third quarter. IMC Chicago LLC now owns 11,401 shares of the company’s stock valued at $605,000 after acquiring an additional 167,700 shares during the last quarter. Asset Allocation Strategies LLC bought a new position in Invesco S&P SmallCap Information Technology ETF during the first quarter valued at $6,240,000. Cetera Investment Advisers increased its position in Invesco S&P SmallCap Information Technology ETF by 232.1% during the first quarter. Cetera Investment Advisers now owns 124,215 shares of the company’s stock valued at $7,462,000 after acquiring an additional 86,813 shares during the last quarter. Finally, Cordoba Advisory Partners LLC bought a new position in Invesco S&P SmallCap Information Technology ETF during the fourth quarter valued at $3,275,000.

About Invesco S&P SmallCap Information Technology ETF

PowerShares S&P SmallCap Information Technology Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called the S&P SmallCap 600 Capped Information Technology Index (the Index). The Index consists of common stocks of the United States information technology companies. These are companies that are principally engaged in the business of providing information technology-related products and services, including computer hardware and software, Internet, electronics and semiconductors, and communication technologies.