Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sets New 12-Month High – Time to Buy?

Shares of Invesco NASDAQ Internet ETF (NASDAQ:PNQI) hit a new 52-week high during trading on Monday . The company traded as high as $47.27 and last traded at $47.26, with a volume of 9485 shares traded. The stock had previously closed at $46.64.

Invesco NASDAQ Internet ETF Stock Up 0.6 %

The stock has a market cap of $847.22 million, a PE ratio of 8.95 and a beta of 1.15. The firm has a fifty day moving average of $44.35 and a 200 day moving average of $41.79.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its holdings in Invesco NASDAQ Internet ETF by 0.7% during the third quarter. Raymond James & Associates now owns 102,343 shares of the company’s stock worth $4,447,000 after purchasing an additional 689 shares in the last quarter. Allworth Financial LP acquired a new stake in Invesco NASDAQ Internet ETF during the 3rd quarter worth $43,000. Cambridge Investment Research Advisors Inc. lifted its position in Invesco NASDAQ Internet ETF by 6.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 51,521 shares of the company’s stock valued at $2,115,000 after acquiring an additional 3,305 shares during the last quarter. Creative Planning boosted its stake in Invesco NASDAQ Internet ETF by 5.3% in the second quarter. Creative Planning now owns 11,630 shares of the company’s stock valued at $478,000 after acquiring an additional 583 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Invesco NASDAQ Internet ETF during the second quarter worth about $1,568,000.

Invesco NASDAQ Internet ETF Company Profile

The Invesco NASDAQ Internet ETF (PNQI) is an exchange-traded fund that is based on the NASDAQ Internet index, a modified-market-cap-weighted index of Internet companies listed in the US. PNQI was launched on Jun 12, 2008 and is managed by Invesco.