Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Stock Short Interest Declines 56.3%

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 11,444 shares, a decline of 56.3% from the September 30th total of 26,173 shares. Based on an average daily trading volume, of 19,030 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of Invesco NASDAQ Internet ETF

A number of institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. purchased a new stake in Invesco NASDAQ Internet ETF in the 2nd quarter worth about $3,512,000. Cetera Investment Advisers boosted its stake in Invesco NASDAQ Internet ETF by 11.9% during the 1st quarter. Cetera Investment Advisers now owns 40,165 shares of the company’s stock valued at $1,797,000 after purchasing an additional 4,262 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of Invesco NASDAQ Internet ETF by 13.8% in the third quarter. SeaCrest Wealth Management LLC now owns 26,492 shares of the company’s stock valued at $1,344,000 after acquiring an additional 3,214 shares during the period. Citadel Advisors LLC bought a new stake in shares of Invesco NASDAQ Internet ETF in the second quarter valued at about $1,130,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Invesco NASDAQ Internet ETF during the third quarter valued at approximately $587,000.

Invesco NASDAQ Internet ETF Stock Performance

PNQI stock traded down $0.76 on Friday, reaching $49.31. The company had a trading volume of 43,962 shares, compared to its average volume of 61,720. Invesco NASDAQ Internet ETF has a 1 year low of $42.80 and a 1 year high of $56.47. The company has a market cap of $516.28 million, a P/E ratio of 30.49 and a beta of 1.25. The company’s fifty day moving average is $51.65 and its 200 day moving average is $48.97.

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.