Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Hits New 52-Week High – Should You Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) reached a new 52-week high on Wednesday . The stock traded as high as $44.84 and last traded at $44.84, with a volume of 168 shares trading hands. The stock had previously closed at $44.27.

Invesco NASDAQ Internet ETF Stock Performance

The firm has a fifty day moving average of $42.67 and a 200 day moving average of $41.03. The firm has a market capitalization of $802.36 million, a PE ratio of 8.95 and a beta of 1.15.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Several large investors have recently added to or reduced their stakes in PNQI. Raymond James & Associates grew its stake in shares of Invesco NASDAQ Internet ETF by 0.7% during the third quarter. Raymond James & Associates now owns 102,343 shares of the company’s stock worth $4,447,000 after purchasing an additional 689 shares during the period. GSA Capital Partners LLP grew its holdings in Invesco NASDAQ Internet ETF by 53.0% during the 1st quarter. GSA Capital Partners LLP now owns 16,382 shares of the company’s stock worth $653,000 after acquiring an additional 5,672 shares during the period. Janney Montgomery Scott LLC bought a new position in Invesco NASDAQ Internet ETF in the 1st quarter valued at about $202,000. Avantax Advisory Services Inc. lifted its position in shares of Invesco NASDAQ Internet ETF by 27.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 28,709 shares of the company’s stock worth $1,145,000 after buying an additional 6,258 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Invesco NASDAQ Internet ETF by 6.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 51,521 shares of the company’s stock valued at $2,115,000 after buying an additional 3,305 shares in the last quarter.

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.