Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sets New 12-Month High – Should You Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI)’s stock price hit a new 52-week high on Thursday . The company traded as high as $50.82 and last traded at $50.17, with a volume of 105 shares traded. The stock had previously closed at $50.28.

Invesco NASDAQ Internet ETF Price Performance

The business’s fifty day moving average price is $48.26 and its 200-day moving average price is $44.80. The stock has a market capitalization of $899.78 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 and hedge funds have recently bought and sold shares of PNQI. Hemington Wealth Management boosted its holdings in shares of 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 purchasing an additional 278 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Invesco NASDAQ Internet ETF in the 4th quarter worth about $40,000. Allworth Financial LP purchased a new stake in Invesco NASDAQ Internet ETF in the third quarter worth approximately $43,000. Harbour Investments Inc. grew its holdings in Invesco NASDAQ Internet ETF by 8.6% during the fourth quarter. Harbour Investments Inc. now owns 2,595 shares of the company’s stock valued at $121,000 after purchasing an additional 205 shares during the period. Finally, WMG Financial Advisors LLC purchased a new stake in Invesco NASDAQ Internet ETF in the 4th quarter worth approximately $201,000.

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.