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

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw strong trading volume on Tuesday . 137,461 shares traded hands during mid-day trading, an increase of 33% from the previous session’s volume of 103,624 shares.The stock last traded at $48.13 and had previously closed at $48.88.

Invesco NASDAQ Internet ETF Price Performance

The stock has a market cap of $855.06 million, a PE ratio of 34.78 and a beta of 1.15. The company’s fifty day moving average is $48.50 and its 200-day moving average is $45.50.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC raised its position in Invesco NASDAQ Internet ETF by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 583,798 shares of the company’s stock valued at $27,258,000 after acquiring an additional 7,540 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Invesco NASDAQ Internet ETF by 8.0% in the 4th quarter. LPL Financial LLC now owns 452,221 shares of the company’s stock valued at $21,114,000 after purchasing an additional 33,630 shares during the period. Jane Street Group LLC boosted its holdings in Invesco NASDAQ Internet ETF by 39.0% during the third quarter. Jane Street Group LLC now owns 373,571 shares of the company’s stock worth $16,232,000 after buying an additional 104,872 shares in the last quarter. Wells Fargo & Company MN grew its position in Invesco NASDAQ Internet ETF by 11.5% during the fourth quarter. Wells Fargo & Company MN now owns 235,597 shares of the company’s stock valued at $11,000,000 after buying an additional 24,340 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Invesco NASDAQ Internet ETF in the fourth quarter valued at $7,875,000.

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.