Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Short Interest Down 16.3% in February

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 583,600 shares, a drop of 16.3% from the February 13th total of 697,400 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 97,500 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lee Danner & Bass Inc. bought a new position in Invesco NASDAQ Internet ETF in the 4th quarter worth about $40,000. Hemington Wealth Management raised its position in Invesco NASDAQ Internet ETF by 47.3% during the fourth quarter. Hemington Wealth Management now owns 866 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Invesco NASDAQ Internet ETF by 8.6% in the 4th quarter. Harbour Investments Inc. now owns 2,595 shares of the company’s stock valued at $121,000 after purchasing an additional 205 shares in the last quarter. WMG Financial Advisors LLC acquired a new stake in Invesco NASDAQ Internet ETF in the 4th quarter worth about $201,000. Finally, TruWealth Advisors LLC acquired a new stake in shares of Invesco NASDAQ Internet ETF in the fourth quarter valued at about $202,000.

Invesco NASDAQ Internet ETF Price Performance

NASDAQ:PNQI traded up $0.79 during mid-day trading on Wednesday, hitting $45.41. 35,510 shares of the company’s stock were exchanged, compared to its average volume of 70,144. Invesco NASDAQ Internet ETF has a one year low of $36.00 and a one year high of $51.32. The business has a fifty day moving average price of $48.14 and a 200 day moving average price of $46.13. The company has a market cap of $807.84 million, a PE ratio of 29.10 and a beta of 1.15.

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.