Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Significant Increase in Short Interest

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 272,310 shares, a growth of 1,748.7% from the July 15th total of 14,730 shares. Based on an average trading volume of 92,620 shares, the short-interest ratio is currently 2.9 days. Approximately 2.6% of the company’s stock are sold short.

Institutional Trading of Invesco NASDAQ Internet ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of PNQI. Global Retirement Partners LLC acquired a new position in shares of Invesco NASDAQ Internet ETF during the 4th quarter worth about $40,000. Advisory Services Network LLC acquired a new stake in shares of Invesco NASDAQ Internet ETF during the 3rd quarter worth about $73,000. O Shaughnessy Asset Management LLC lifted its stake in Invesco NASDAQ Internet ETF by 198.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,449 shares of the company’s stock worth $132,000 after purchasing an additional 1,628 shares during the last quarter. Equitable Trust Co. acquired a new position in Invesco NASDAQ Internet ETF in the first quarter valued at approximately $203,000. Finally, RCW Management LLC acquired a new position in Invesco NASDAQ Internet ETF in the fourth quarter valued at approximately $237,000.

Invesco NASDAQ Internet ETF Price Performance

Shares of PNQI traded down $0.21 during midday trading on Tuesday, reaching $51.98. The stock had a trading volume of 26,029 shares, compared to its average volume of 74,126. Invesco NASDAQ Internet ETF has a 1-year low of $42.80 and a 1-year high of $57.22. The company’s fifty day simple moving average is $47.63 and its two-hundred day simple moving average is $47.67. The company has a market cap of $553.59 million, a price-to-earnings ratio of 30.49 and a beta of 1.23.

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.