Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Large Drop in Short Interest

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 106,800 shares, a decline of 81.9% from the March 15th total of 588,500 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 118,400 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Several large investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. boosted its holdings in shares of Invesco NASDAQ Internet ETF by 8.6% during the 4th quarter. Harbour Investments Inc. now owns 2,595 shares of the company’s stock worth $121,000 after buying an additional 205 shares in the last quarter. Truist Financial Corp boosted its stake in Invesco NASDAQ Internet ETF by 0.3% during the fourth quarter. Truist Financial Corp now owns 73,784 shares of the company’s stock worth $3,445,000 after acquiring an additional 228 shares in the last quarter. MML Investors Services LLC grew its holdings in Invesco NASDAQ Internet ETF by 0.5% in the fourth quarter. MML Investors Services LLC now owns 51,976 shares of the company’s stock worth $2,427,000 after purchasing an additional 240 shares during the period. Hemington Wealth Management increased its stake in Invesco NASDAQ Internet ETF by 47.3% in the fourth quarter. Hemington Wealth Management now owns 866 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Invesco NASDAQ Internet ETF by 2.2% during the fourth quarter. Cetera Investment Advisers now owns 21,404 shares of the company’s stock valued at $999,000 after purchasing an additional 455 shares during the period.

Invesco NASDAQ Internet ETF Stock Up 0.1 %

PNQI traded up $0.03 during trading on Tuesday, reaching $42.38. 18,874 shares of the stock traded hands, compared to its average volume of 74,860. The stock has a market capitalization of $742.09 million, a PE ratio of 26.65 and a beta of 1.26. The stock’s 50-day moving average is $46.13 and its 200 day moving average is $46.37. Invesco NASDAQ Internet ETF has a 12 month low of $36.00 and a 12 month high of $51.32.

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.