Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Unusually-High Trading Volume – Still a Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) shares saw unusually-strong trading volume on Tuesday. 193,789 shares were traded during trading, an increase of 210% from the average daily volume of 62,481 shares. The stock last traded at $50.31 and had previously closed at $50.90.

Invesco NASDAQ Internet ETF Stock Down 0.7%

The firm has a market cap of $521.69 million, a price-to-earnings ratio of 24.04 and a beta of 1.27. The firm has a 50 day moving average of $51.31 and a 200 day moving average of $48.89.

Institutional Trading of Invesco NASDAQ Internet ETF

Large investors have recently modified their holdings of the stock. Financial Freedom LLC acquired a new position in shares of Invesco NASDAQ Internet ETF during the 3rd quarter valued at $56,000. Tsfg LLC acquired a new stake in Invesco NASDAQ Internet ETF in the second quarter worth $56,000. GW&K Investment Management LLC acquired a new stake in Invesco NASDAQ Internet ETF in the third quarter worth $70,000. Allworth Financial LP increased its stake in Invesco NASDAQ Internet ETF by 14.8% in the second quarter. Allworth Financial LP now owns 1,668 shares of the company’s stock valued at $76,000 after purchasing an additional 215 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in Invesco NASDAQ Internet ETF in the second quarter valued at $81,000.

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.