Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Trading Down 1% – What’s Next?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI)’s stock price dropped 1% during mid-day trading on Wednesday . The company traded as low as $47.11 and last traded at $47.55. Approximately 12,491 shares traded hands during trading, a decline of 83% from the average daily volume of 75,525 shares. The stock had previously closed at $48.01.

Invesco NASDAQ Internet ETF Trading Down 1.0%

The business has a 50-day moving average price of $47.38 and a two-hundred day moving average price of $48.46. The stock has a market capitalization of $524.95 million, a P/E ratio of 30.49 and a beta of 1.24.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco NASDAQ Internet ETF by 797.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 76,907 shares of the company’s stock worth $4,149,000 after purchasing an additional 68,339 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Invesco NASDAQ Internet ETF by 69.9% in the 4th quarter. Benjamin Edwards Inc. now owns 32,957 shares of the company’s stock valued at $1,778,000 after purchasing an additional 13,555 shares during the last quarter. Wellington Shields & Co. LLC raised its holdings in shares of Invesco NASDAQ Internet ETF by 15.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 6,610 shares of the company’s stock worth $357,000 after buying an additional 893 shares in the last quarter. Redstone Wealth Management LLC bought a new stake in shares of Invesco NASDAQ Internet ETF during the 4th quarter worth $307,000. Finally, Odyssey Capital Advisors Inc. bought a new stake in shares of Invesco NASDAQ Internet ETF during the 4th quarter worth $554,000.

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.