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

Invesco NASDAQ Internet ETF (NASDAQ:PNQI)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $46.77 and last traded at $46.71, with a volume of 7948 shares. The stock had previously closed at $46.19.

Invesco NASDAQ Internet ETF Stock Performance

The stock has a fifty day moving average of $43.16 and a 200 day moving average of $41.28. The company has a market capitalization of $837.03 million, a P/E ratio of 8.95 and a beta of 1.15.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in Invesco NASDAQ Internet ETF during the third quarter valued at about $5,401,000. Sanctuary Advisors LLC bought a new stake in Invesco NASDAQ Internet ETF during the second quarter valued at about $1,568,000. Prudent Investors Network Inc. bought a new stake in Invesco NASDAQ Internet ETF during the first quarter valued at about $399,000. Raymond James & Associates raised its holdings in Invesco NASDAQ Internet ETF by 9.6% during the second quarter. Raymond James & Associates now owns 101,654 shares of the company’s stock valued at $4,174,000 after acquiring an additional 8,916 shares during the period. Finally, FMR LLC raised its holdings in Invesco NASDAQ Internet ETF by 53.1% during the third quarter. FMR LLC now owns 20,909 shares of the company’s stock valued at $908,000 after acquiring an additional 7,251 shares during the period.

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.