Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Reaches New 1-Year High – Still a Buy?

Shares of Invesco NASDAQ Internet ETF (NASDAQ:PNQI) hit a new 52-week high on Monday . The company traded as high as $47.61 and last traded at $47.61, with a volume of 4985 shares changing hands. The stock had previously closed at $47.41.

Invesco NASDAQ Internet ETF Stock Up 0.8 %

The business has a 50-day simple moving average of $44.66 and a 200-day simple moving average of $41.95. The stock has a market cap of $853.83 million, a P/E ratio of 8.95 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in Invesco NASDAQ Internet ETF by 39.0% during the 3rd quarter. Jane Street Group LLC now owns 373,571 shares of the company’s stock worth $16,232,000 after acquiring an additional 104,872 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Invesco NASDAQ Internet ETF by 0.8% in the third quarter. HighTower Advisors LLC now owns 576,258 shares of the company’s stock worth $25,050,000 after purchasing an additional 4,833 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of Invesco NASDAQ Internet ETF during the 3rd quarter worth about $687,000. FMR LLC boosted its stake in Invesco NASDAQ Internet ETF by 53.1% during the 3rd quarter. FMR LLC now owns 20,909 shares of the company’s stock valued at $908,000 after purchasing an additional 7,251 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Invesco NASDAQ Internet ETF in the 3rd quarter valued at approximately $5,401,000.

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.