Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Reaches New 12-Month High – What’s Next?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) shares reached a new 52-week high on Tuesday . The company traded as high as $44.30 and last traded at $44.25, with a volume of 9458 shares trading hands. The stock had previously closed at $44.02.

Invesco NASDAQ Internet ETF Price Performance

The company has a market cap of $801.90 million, a P/E ratio of 8.95 and a beta of 1.15. The stock has a fifty day moving average price of $42.47 and a two-hundred day moving average price of $40.86.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Invesco NASDAQ Internet ETF during the third quarter worth approximately $43,000. Janney Montgomery Scott LLC bought a new stake in Invesco NASDAQ Internet ETF during the first quarter worth approximately $202,000. Concord Investment Counsel Inc. bought a new stake in Invesco NASDAQ Internet ETF during the first quarter worth approximately $228,000. Western Financial Corp CA raised its holdings in Invesco NASDAQ Internet ETF by 5.0% during the second quarter. Western Financial Corp CA now owns 8,656 shares of the company’s stock worth $355,000 after purchasing an additional 413 shares in the last quarter. Finally, Prudent Investors Network Inc. bought a new position in shares of Invesco NASDAQ Internet ETF in the first quarter valued at $399,000.

About Invesco NASDAQ Internet ETF

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.