Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Strong Trading Volume – What’s Next?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw unusually-strong trading volume on Tuesday. 193,789 shares changed hands during mid-day trading, an increase of 210% from the average daily volume of 62,481 shares. The stock last traded at $50.31 and had previously closed at $50.90.

Invesco NASDAQ Internet ETF Stock Performance

The company’s 50-day moving average price is $51.38 and its 200 day moving average price is $48.91. The stock has a market cap of $523.27 million, a PE ratio of 24.04 and a beta of 1.27.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

A number of institutional investors have recently made changes to their positions in PNQI. Allworth Financial LP raised its position in shares of Invesco NASDAQ Internet ETF by 14.8% during the 2nd quarter. Allworth Financial LP now owns 1,668 shares of the company’s stock valued at $76,000 after acquiring an additional 215 shares in the last quarter. Financial Freedom LLC bought a new position in Invesco NASDAQ Internet ETF in the 3rd quarter worth about $56,000. Tsfg LLC acquired a new stake in shares of Invesco NASDAQ Internet ETF in the second quarter valued at approximately $56,000. Kestra Advisory Services LLC increased its stake in shares of Invesco NASDAQ Internet ETF by 31.9% in the first quarter. Kestra Advisory Services LLC now owns 5,307 shares of the company’s stock valued at $237,000 after purchasing an additional 1,283 shares during the period. Finally, Triumph Capital Management acquired a new position in shares of Invesco NASDAQ Internet ETF during the second quarter worth approximately $81,000.

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.