Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Significant Growth in Short Interest

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 95,743 shares, an increase of 34.9% from the February 26th total of 70,964 shares. Based on an average daily volume of 104,647 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.7% of the shares of the company are short sold.

Invesco NASDAQ Internet ETF Stock Up 0.7%

PNQI traded up $0.29 during trading on Monday, hitting $43.19. 59,925 shares of the company traded hands, compared to its average volume of 106,419. Invesco NASDAQ Internet ETF has a one year low of $37.75 and a one year high of $57.22. The stock’s fifty day moving average is $47.68 and its 200 day moving average is $52.21. The firm has a market cap of $565.79 million, a P/E ratio of 30.49 and a beta of 1.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNQI. FFG Partners LLC purchased a new position in Invesco NASDAQ Internet ETF in the third quarter valued at approximately $575,000. Osaic Holdings Inc. increased its position in Invesco NASDAQ Internet ETF by 18.2% in the second quarter. Osaic Holdings Inc. now owns 79,051 shares of the company’s stock worth $4,127,000 after buying an additional 12,178 shares during the last quarter. Jones Financial Companies Lllp increased its position in Invesco NASDAQ Internet ETF by 19.0% in the third quarter. Jones Financial Companies Lllp now owns 30,358 shares of the company’s stock worth $1,701,000 after buying an additional 4,845 shares during the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Invesco NASDAQ Internet ETF by 22.2% in the third quarter. Wellington Shields & Co. LLC now owns 5,717 shares of the company’s stock valued at $319,000 after buying an additional 1,037 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Invesco NASDAQ Internet ETF by 1.3% in the third quarter. Truist Financial Corp now owns 73,501 shares of the company’s stock valued at $4,103,000 after buying an additional 911 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.