Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw unusually-strong trading volume on Monday . Approximately 201,291 shares were traded during trading, an increase of 72% from the previous session’s volume of 117,267 shares.The stock last traded at $47.6810 and had previously closed at $47.68.

Invesco NASDAQ Internet ETF Price Performance

The stock has a 50-day moving average price of $52.77 and a 200-day moving average price of $53.90. The company has a market capitalization of $619.50 million, a P/E ratio of 30.49 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in Invesco NASDAQ Internet ETF in the second quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new stake in Invesco NASDAQ Internet ETF in the fourth quarter valued at $40,000. Huntington National Bank bought a new position in shares of Invesco NASDAQ Internet ETF during the 3rd quarter worth about $56,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Invesco NASDAQ Internet ETF in the 3rd quarter valued at about $61,000. Finally, Advisory Services Network LLC acquired a new position in Invesco NASDAQ Internet ETF during the 3rd quarter worth approximately $73,000.

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.