Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Large Volume Increase – Should You Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw strong trading volume on Tuesday . Approximately 145,116 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 74,846 shares.The stock last traded at $48.18 and had previously closed at $48.61.

Invesco NASDAQ Internet ETF Price Performance

The firm has a market capitalization of $520.83 million, a price-to-earnings ratio of 30.49 and a beta of 1.24. The business’s 50 day moving average price is $47.36 and its 200-day moving average price is $48.13.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in shares of Invesco NASDAQ Internet ETF by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 249,316 shares of the company’s stock valued at $13,450,000 after buying an additional 8,671 shares during the period. Bank of America Corp DE lifted its holdings in Invesco NASDAQ Internet ETF by 3.2% in the third quarter. Bank of America Corp DE now owns 241,299 shares of the company’s stock valued at $13,472,000 after acquiring an additional 7,416 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Invesco NASDAQ Internet ETF by 3.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 237,285 shares of the company’s stock worth $12,801,000 after purchasing an additional 7,212 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Invesco NASDAQ Internet ETF by 0.8% during the 2nd quarter. Raymond James Financial Inc. now owns 165,485 shares of the company’s stock worth $8,640,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco NASDAQ Internet ETF by 797.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 76,907 shares of the company’s stock worth $4,149,000 after purchasing an additional 68,339 shares during the period.

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.