There is a change to the Invesco Sector Seven Model (POWER7) this week.
There is a change to the Invesco Sector Seven Model (POWER7) this week: sell the Invesco Oil & Gas Services ETF (PXJ) and buy the Invesco AI and Next Gen Software ETF (IGPT). PXJ was sold because its rank in the model’s relative strength matrix fell below the threshold to remain a holding in the portfolio. In its place, the model added IGPT as it was the highest-ranking fund in the matrix that was not already a model holding. IGPT currently has a near-perfect 5.93 fund score, which is 2.13 points better than the average for all technology & communications funds, and a positive 2.23 score direction. On its default chart, IGPT has completed two consecutive buy signal and reached an all-time in last week’s trading. Year-to-date (through 6/26), the fund has gained 66.2% on a price return basis.
In addition to IGPT, POWER7 also has exposure to aerospace & defense, building & construction, global clean energy, technology, next gen connectivity, and semiconductors. Year-to-date, POWER7 has gained 29.55%.
