Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sets New 1-Year High – Still a Buy?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) hit a new 52-week high on Tuesday . The company traded as high as $49.62 and last traded at $49.56, with a volume of 21951 shares traded. The stock had previously closed at $48.74.

Invesco NASDAQ Internet ETF Trading Up 2.1 %

The firm’s fifty day moving average price is $47.64 and its 200-day moving average price is $44.06. The company has a market cap of $889.53 million, a price-to-earnings ratio of 8.95 and a beta of 1.15.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Several large investors have recently modified their holdings of PNQI. Allworth Financial LP acquired a new position in shares of Invesco NASDAQ Internet ETF in the 3rd quarter valued at approximately $43,000. TruWealth Advisors LLC bought a new position in Invesco NASDAQ Internet ETF in the fourth quarter valued at approximately $202,000. Bank Hapoalim BM acquired a new position in shares of Invesco NASDAQ Internet ETF in the fourth quarter valued at approximately $215,000. KKM Financial LLC increased its position in shares of Invesco NASDAQ Internet ETF by 4.4% during the third quarter. KKM Financial LLC now owns 7,200 shares of the company’s stock worth $313,000 after acquiring an additional 303 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Invesco NASDAQ Internet ETF by 29.2% during the third quarter. JPMorgan Chase & Co. now owns 7,430 shares of the company’s stock worth $323,000 after acquiring an additional 1,680 shares in the last quarter.

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.