Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Hits New 12-Month High – Here’s Why

Shares of Invesco NASDAQ Internet ETF (NASDAQ:PNQI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.62 and last traded at $49.56, with a volume of 21951 shares. The stock had previously closed at $48.74.

Invesco NASDAQ Internet ETF Price Performance

The stock’s 50 day simple moving average is $47.78 and its two-hundred day simple moving average is $44.15. The stock has a market cap of $901.19 million, a price-to-earnings ratio of 8.95 and a beta of 1.15.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

A number of institutional investors have recently bought and sold shares of the business. Hemington Wealth Management boosted its stake in Invesco NASDAQ Internet ETF by 47.3% during the fourth quarter. Hemington Wealth Management now owns 866 shares of the company’s stock worth $40,000 after buying an additional 278 shares in the last quarter. KKM Financial LLC boosted its stake in shares of Invesco NASDAQ Internet ETF by 4.4% in the 3rd quarter. KKM Financial LLC now owns 7,200 shares of the company’s stock valued at $313,000 after purchasing an additional 303 shares in the last quarter. Creative Planning boosted its stake in shares of Invesco NASDAQ Internet ETF by 5.3% in the 2nd quarter. Creative Planning now owns 11,630 shares of the company’s stock valued at $478,000 after purchasing an additional 583 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Invesco NASDAQ Internet ETF by 0.7% in the 3rd quarter. Raymond James & Associates now owns 102,343 shares of the company’s stock valued at $4,447,000 after purchasing an additional 689 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Invesco NASDAQ Internet ETF in the 3rd quarter valued at $43,000.

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.