Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Shares Down 1% – Here’s Why

Invesco NASDAQ Internet ETF (NASDAQ:PNQI)’s share price dropped 1% on Wednesday . The company traded as low as $47.11 and last traded at $47.55. Approximately 12,491 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 75,525 shares. The stock had previously closed at $48.01.

Invesco NASDAQ Internet ETF Price Performance

The stock has a market cap of $532.57 million, a PE ratio of 30.49 and a beta of 1.24. The stock has a 50-day simple moving average of $47.37 and a 200-day simple moving average of $48.42.

Institutional Trading of Invesco NASDAQ Internet ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its position in Invesco NASDAQ Internet ETF by 797.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 76,907 shares of the company’s stock valued at $4,149,000 after buying an additional 68,339 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Invesco NASDAQ Internet ETF by 69.9% in the fourth quarter. Benjamin Edwards Inc. now owns 32,957 shares of the company’s stock worth $1,778,000 after acquiring an additional 13,555 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Invesco NASDAQ Internet ETF by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,095 shares of the company’s stock valued at $550,000 after acquiring an additional 275 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Invesco NASDAQ Internet ETF by 6.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,610 shares of the company’s stock valued at $626,000 after acquiring an additional 665 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Invesco NASDAQ Internet ETF by 39.3% in the 3rd quarter. Allworth Financial LP now owns 1,393 shares of the company’s stock valued at $78,000 after acquiring an additional 393 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.