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

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) shares saw an uptick in trading volume on Monday . 217,560 shares traded hands during trading, an increase of 142% from the previous session’s volume of 89,962 shares.The stock last traded at $44.01 and had previously closed at $43.62.

Invesco NASDAQ Internet ETF Stock Performance

The firm has a market cap of $812.61 million, a price-to-earnings ratio of 8.95 and a beta of 1.15. The business’s 50 day moving average price is $42.30 and its 200 day moving average price is $40.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Financial Corp CA raised its holdings in shares of Invesco NASDAQ Internet ETF by 5.0% during the 2nd quarter. Western Financial Corp CA now owns 8,656 shares of the company’s stock worth $355,000 after acquiring an additional 413 shares during the period. US Bancorp DE raised its holdings in shares of Invesco NASDAQ Internet ETF by 3.7% during the 1st quarter. US Bancorp DE now owns 16,090 shares of the company’s stock worth $642,000 after acquiring an additional 575 shares during the period. Creative Planning raised its holdings in shares of Invesco NASDAQ Internet ETF by 5.3% during the 2nd quarter. Creative Planning now owns 11,630 shares of the company’s stock worth $478,000 after acquiring an additional 583 shares during the period. Raymond James & Associates raised its holdings in shares of Invesco NASDAQ Internet ETF by 0.7% during the 3rd quarter. Raymond James & Associates now owns 102,343 shares of the company’s stock worth $4,447,000 after acquiring an additional 689 shares during the period. Finally, Ironwood Investment Counsel LLC raised its holdings in shares of Invesco NASDAQ Internet ETF by 8.1% during the 1st quarter. Ironwood Investment Counsel LLC now owns 10,673 shares of the company’s stock worth $426,000 after acquiring an additional 803 shares during the period.

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.