Technology Momentum ETF Gains 1.42% on Ondas $30M Contract Wins
Invesco Dorsey Wright Technology Momentum ETF climbed 1.42% on February 13 as Ondas Inc. secured a multi-million-dollar Iron Drone Raider order from a major NATO-country civil infrastructure customer and its subsidiary won a $30 million Israel-Syria border demining tender. The ETF outpaced sector peers in defense and automation names.
1. PTF's February 13 Performance
Invesco Dorsey Wright Technology Momentum ETF climbed 1.42% on February 13, compared with a 2.30% rise in the SPDR S&P Kensho New Economies Composite and a 1.61% gain in the ROBO Global Robotics Index ETF. The selective strength in small-cap defense and automation names drove the momentum portfolio higher despite mixed sector trends.
2. Ondas Contract Announcements
Members of the ETF’s top holdings saw a surge after Ondas Inc. won a multi-million-dollar order for its Iron Drone Raider counter-UAS system from a major European NATO-country civil infrastructure provider. Its smart demining subsidiary also secured a $30 million, multi-year land-clearance tender along the Israel-Syria border, following an earlier $16.8 million airport deployment contract.
3. PTF Strategy and Exposure
PTF applies a relative-strength screening process among US technology equities, leading to elevated allocations to names with double-digit price gains over the past 12 months. Its momentum model currently favors defense tech and automation firms, increasing sensitivity to large contract announcements and potential inflows as security solutions demand rises.