The Invesco S&P SmallCap Information Technology ETF performed well last year and has started 2022 in a positive fashion.
PSCT Rallies by Less Than 1%
The Invesco S&P SmallCap Information Technology ETF was one of the best-performing stocks in its category last year, adding more than 28% to its value during that period. The ETF started 2022 the way it ended last year and looks set to rally higher in the coming days and weeks.
The Invesco S&P SmallCap Information Technology ETF (PSCT) has been around since 2010 and is a passively managed fund designed to offer investors broad exposure to the Technology – Broad segment of the US stock market.
The ETF is sponsored by Invesco and has more than $500 million in assets under management making it one of the average sized funds attempting to match the performance of the Technology – Broad segment of the stock market.
Before fees and expenses, the Invesco S&P SmallCap Information Technology ETF is designed to match the performance of the S&P SmallCap 600 Capped Information Technology Index. This index measures the overall performance of common stocks of United States information technology companies.
PSCT Eyes the $60 Resistance Level
PSCT performed excellently last year, adding nearly 30% to its value within 12 months. The fund has annual operating expenses for this ETF are 0.29%, making it one of the least expensive products in its category.
The technical indicators show that PSCT is currently performing well. PSCT is trading above its 50-day moving average of $146. The RSI of 61 shows that PSCT is entering the overbought region while the MACD line is above the neutral zone.