Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Hits New 12-Month High – Still a Buy?

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

Invesco NASDAQ Internet ETF Stock Up 1.4 %

The firm has a 50 day moving average price of $42.67 and a two-hundred day moving average price of $41.03. The company has a market cap of $802.36 million, a price-to-earnings ratio of 8.95 and a beta of 1.15.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

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