Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Strong Trading Volume – Here’s What Happened

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) shares saw unusually-strong trading volume on Monday . Approximately 78,226 shares traded hands during mid-day trading, an increase of 55% from the previous session’s volume of 50,341 shares.The stock last traded at $52.3520 and had previously closed at $52.12.

Invesco NASDAQ Internet ETF Stock Performance

The firm’s 50-day simple moving average is $53.58 and its 200 day simple moving average is $54.13. The company has a market cap of $751.42 million, a P/E ratio of 30.49 and a beta of 1.21.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp acquired a new stake in Invesco NASDAQ Internet ETF in the second quarter worth $78,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Invesco NASDAQ Internet ETF by 9.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,773 shares of the company’s stock valued at $771,000 after buying an additional 1,222 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Invesco NASDAQ Internet ETF by 43.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,133 shares of the company’s stock valued at $1,364,000 after buying an additional 7,945 shares in the last quarter. WMG Financial Advisors LLC raised its stake in Invesco NASDAQ Internet ETF by 5.9% during the 2nd quarter. WMG Financial Advisors LLC now owns 5,798 shares of the company’s stock worth $303,000 after buying an additional 324 shares during the period. Finally, FFG Partners LLC bought a new position in Invesco NASDAQ Internet ETF during the third quarter worth about $575,000.

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.