Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Reaches New 12-Month High – Here’s Why

Shares of Invesco NASDAQ Internet ETF (NASDAQ:PNQI) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.32 and last traded at $51.01, with a volume of 64410 shares changing hands. The stock had previously closed at $51.15.

Invesco NASDAQ Internet ETF Trading Down 0.7 %

The firm has a market cap of $903.23 million, a PE ratio of 34.78 and a beta of 1.16. The stock’s 50 day moving average price is $48.49 and its 200 day moving average price is $45.24.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP bought a new position in Invesco NASDAQ Internet ETF during the 4th quarter worth approximately $2,554,000. Cetera Investment Advisers boosted its position in Invesco NASDAQ Internet ETF by 2.2% during the 4th quarter. Cetera Investment Advisers now owns 21,404 shares of the company’s stock valued at $999,000 after purchasing an additional 455 shares during the period. Ameriprise Financial Inc. grew its stake in Invesco NASDAQ Internet ETF by 46.7% during the 4th quarter. Ameriprise Financial Inc. now owns 60,723 shares of the company’s stock worth $2,835,000 after buying an additional 19,337 shares during the last quarter. MML Investors Services LLC increased its position in Invesco NASDAQ Internet ETF by 0.5% in the fourth quarter. MML Investors Services LLC now owns 51,976 shares of the company’s stock worth $2,427,000 after buying an additional 240 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Invesco NASDAQ Internet ETF in the fourth quarter valued at $7,875,000.

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.