Invesco NASDAQ Internet ETF (NASDAQ:PNQI – Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 272,310 shares, an increase of 1,748.7% from the July 15th total of 14,730 shares. Based on an average daily volume of 92,620 shares, the short-interest ratio is presently 2.9 days. Approximately 2.6% of the company’s shares are sold short.
Invesco NASDAQ Internet ETF Stock Performance
NASDAQ PNQI opened at $51.98 on Wednesday. The stock has a market cap of $553.59 million, a P/E ratio of 30.49 and a beta of 1.23. Invesco NASDAQ Internet ETF has a fifty-two week low of $42.80 and a fifty-two week high of $57.22. The stock has a 50 day simple moving average of $47.63 and a two-hundred day simple moving average of $47.67.
Hedge Funds Weigh In On Invesco NASDAQ Internet ETF
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GWN Securities Inc. lifted its holdings in shares of Invesco NASDAQ Internet ETF by 6.4% during the fourth quarter. GWN Securities Inc. now owns 6,304 shares of the company’s stock valued at $340,000 after purchasing an additional 381 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Invesco NASDAQ Internet ETF by 4.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,900 shares of the company’s stock worth $465,000 after buying an additional 401 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Invesco NASDAQ Internet ETF by 5.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,008 shares of the company’s stock worth $486,000 after buying an additional 440 shares in the last quarter. Kovack Advisors Inc. raised its position in Invesco NASDAQ Internet ETF by 3.5% in the 4th quarter. Kovack Advisors Inc. now owns 13,806 shares of the company’s stock worth $750,000 after buying an additional 462 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in Invesco NASDAQ Internet ETF by 2.5% during the 4th quarter. Lido Advisors LLC now owns 20,404 shares of the company’s stock valued at $1,118,000 after acquiring an additional 493 shares during the period.
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.
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