Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Shares Down 1% – Time to Sell?

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) traded down 1% during trading on Wednesday . The stock traded as low as $47.11 and last traded at $47.55. Approximately 12,491 shares were traded during trading, a decline of 83% from the average session volume of 75,525 shares. The stock had previously closed at $48.01.

Invesco NASDAQ Internet ETF Stock Performance

The stock has a market cap of $524.95 million, a price-to-earnings ratio of 30.49 and a beta of 1.24. The company has a 50-day simple moving average of $47.38 and a two-hundred day simple moving average of $48.46.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco NASDAQ Internet ETF by 797.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 76,907 shares of the company’s stock valued at $4,149,000 after acquiring an additional 68,339 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Invesco NASDAQ Internet ETF by 69.9% in the 4th quarter. Benjamin Edwards Inc. now owns 32,957 shares of the company’s stock valued at $1,778,000 after purchasing an additional 13,555 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Invesco NASDAQ Internet ETF in the 3rd quarter valued at about $73,000. Global Retirement Partners LLC bought a new position in Invesco NASDAQ Internet ETF during the fourth quarter worth about $40,000. Finally, Cetera Investment Advisers grew its holdings in Invesco NASDAQ Internet ETF by 11.9% during the first quarter. Cetera Investment Advisers now owns 40,165 shares of the company’s stock worth $1,797,000 after purchasing an additional 4,262 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.