Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Large Volume Increase – Here’s Why

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw unusually-strong trading volume on Tuesday . Approximately 159,149 shares changed hands during mid-day trading, an increase of 175% from the previous session’s volume of 57,770 shares.The stock last traded at $47.46 and had previously closed at $47.48.

Invesco NASDAQ Internet ETF Stock Performance

The stock has a market cap of $852.46 million, a P/E ratio of 8.95 and a beta of 1.15. The stock has a 50-day moving average price of $47.44 and a 200-day moving average price of $43.83.

Institutional Trading of Invesco NASDAQ Internet ETF

Several institutional investors and hedge funds have recently made changes to their positions in PNQI. Bank of Montreal Can bought a new stake in Invesco NASDAQ Internet ETF in the 3rd quarter worth approximately $5,401,000. Jane Street Group LLC grew its holdings in shares of Invesco NASDAQ Internet ETF by 39.0% during the 3rd quarter. Jane Street Group LLC now owns 373,571 shares of the company’s stock valued at $16,232,000 after purchasing an additional 104,872 shares during the last quarter. Grant GrossMendelsohn LLC purchased a new position in Invesco NASDAQ Internet ETF in the 4th quarter worth $3,151,000. Sanctuary Advisors LLC purchased a new stake in Invesco NASDAQ Internet ETF during the second quarter valued at about $1,568,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Invesco NASDAQ Internet ETF during the fourth quarter valued at about $774,000.

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.