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

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) shares saw strong trading volume on Monday . 217,560 shares changed hands during mid-day trading, an increase of 142% from the previous session’s volume of 89,962 shares.The stock last traded at $44.01 and had previously closed at $43.62.

Invesco NASDAQ Internet ETF Trading Up 0.2 %

The company has a market capitalization of $819.62 million, a P/E ratio of 8.95 and a beta of 1.15. The company has a 50 day moving average price of $42.41 and a 200 day moving average price of $40.84.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Several hedge funds have recently bought and sold shares of PNQI. SeaCrest Wealth Management LLC boosted its position in shares of Invesco NASDAQ Internet ETF by 55.5% in the first quarter. SeaCrest Wealth Management LLC now owns 16,618 shares of the company’s stock valued at $663,000 after acquiring an additional 5,932 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Invesco NASDAQ Internet ETF by 16.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 33,066 shares of the company’s stock valued at $1,319,000 after purchasing an additional 4,681 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Invesco NASDAQ Internet ETF during the 1st quarter worth approximately $648,000. Janney Montgomery Scott LLC bought a new position in shares of Invesco NASDAQ Internet ETF during the first quarter worth approximately $202,000. Finally, GSA Capital Partners LLP raised its position in shares of Invesco NASDAQ Internet ETF by 53.0% in the first quarter. GSA Capital Partners LLP now owns 16,382 shares of the company’s stock valued at $653,000 after buying an additional 5,672 shares in the last quarter.

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.