Short Interest in Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Rises By 452.2%

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 70,964 shares, a growth of 452.2% from the February 12th total of 12,851 shares. Based on an average daily volume of 114,116 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.5% of the company’s shares are short sold. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 114,116 shares, the days-to-cover ratio is currently 0.6 days.

Invesco NASDAQ Internet ETF Trading Down 0.9%

Shares of NASDAQ:PNQI traded down $0.42 during trading on Tuesday, reaching $47.40. 48,897 shares of the company traded hands, compared to its average volume of 124,383. Invesco NASDAQ Internet ETF has a 52-week low of $37.75 and a 52-week high of $57.22. The firm has a market capitalization of $620.94 million, a price-to-earnings ratio of 30.49 and a beta of 1.21. The business’s fifty day moving average is $49.99 and its 200-day moving average is $53.10.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Invesco NASDAQ Internet ETF by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 249,316 shares of the company’s stock valued at $13,450,000 after buying an additional 8,671 shares during the period. Bank of America Corp DE raised its stake in shares of Invesco NASDAQ Internet ETF by 3.2% during the third quarter. Bank of America Corp DE now owns 241,299 shares of the company’s stock valued at $13,472,000 after acquiring an additional 7,416 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Invesco NASDAQ Internet ETF by 3.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 237,285 shares of the company’s stock valued at $12,801,000 after acquiring an additional 7,212 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Invesco NASDAQ Internet ETF by 0.8% during the second quarter. Raymond James Financial Inc. now owns 165,485 shares of the company’s stock worth $8,640,000 after purchasing an additional 1,305 shares during the period. Finally, PFG Advisors boosted its holdings in shares of Invesco NASDAQ Internet ETF by 5.1% during the third quarter. PFG Advisors now owns 98,280 shares of the company’s stock worth $5,487,000 after purchasing an additional 4,807 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.