Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Large Volume Increase – Should You Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) saw unusually-strong trading volume on Wednesday . Approximately 98,027 shares changed hands during trading, an increase of 30% from the previous session’s volume of 75,156 shares.The stock last traded at $48.73 and had previously closed at $48.77.

Invesco NASDAQ Internet ETF Stock Up 0.2%

The company has a 50 day moving average of $47.27 and a 200 day moving average of $47.84. The stock has a market capitalization of $527.03 million, a price-to-earnings ratio of 30.49 and a beta of 1.24.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Invesco NASDAQ Internet ETF by 797.6% during the 4th 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 during the last quarter. Benjamin Edwards Inc. grew its position in Invesco NASDAQ Internet ETF by 69.9% in the 4th quarter. Benjamin Edwards Inc. now owns 32,957 shares of the company’s stock valued at $1,778,000 after buying an additional 13,555 shares in the last quarter. Millennium Capital Advisors LLC bought a new position in Invesco NASDAQ Internet ETF during the fourth quarter valued at about $394,000. Tcfg Wealth Management LLC raised its position in Invesco NASDAQ Internet ETF by 42.7% in the first quarter. Tcfg Wealth Management LLC now owns 6,836 shares of the company’s stock worth $306,000 after acquiring an additional 2,046 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Invesco NASDAQ Internet ETF by 2.5% in the 4th quarter. Lido Advisors LLC now owns 20,404 shares of the company’s stock worth $1,118,000 after purchasing an additional 493 shares in the last quarter.

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.