Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Hits New 52-Week High – Time to Buy?

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

Invesco NASDAQ Internet ETF Stock Up 2.1 %

The stock’s fifty day moving average price is $47.64 and its 200-day moving average price is $44.06. The company has a market capitalization 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 institutional investors and hedge funds have recently added to or reduced their stakes in PNQI. Allworth Financial LP acquired a new stake in shares of Invesco NASDAQ Internet ETF in the third quarter valued at about $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 during the 4th quarter worth approximately $215,000. KKM Financial LLC raised its stake in shares of Invesco NASDAQ Internet ETF by 4.4% during the 3rd quarter. KKM Financial LLC now owns 7,200 shares of the company’s stock worth $313,000 after purchasing an additional 303 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Invesco NASDAQ Internet ETF by 29.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,430 shares of the company’s stock valued at $323,000 after buying an additional 1,680 shares during 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.