Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Trading Down 1.6% – Here’s What Happened

Invesco NASDAQ Internet ETF (NASDAQ:PNQI)’s share price dropped 1.6% during trading on Friday . The stock traded as low as $45.98 and last traded at $46.33. Approximately 50,145 shares changed hands during trading, a decline of 12% from the average daily volume of 57,191 shares. The stock had previously closed at $47.09.

Invesco NASDAQ Internet ETF Stock Down 1.6 %

The stock has a market capitalization of $828.38 million, a P/E ratio of 8.95 and a beta of 1.15. The company has a fifty day simple moving average of $47.22 and a two-hundred day simple moving average of $43.56.

Institutional Trading of Invesco NASDAQ Internet ETF

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in shares of Invesco NASDAQ Internet ETF in the third quarter valued at about $5,401,000. Jane Street Group LLC raised its position in Invesco NASDAQ Internet ETF by 39.0% in the 3rd quarter. Jane Street Group LLC now owns 373,571 shares of the company’s stock valued at $16,232,000 after buying an additional 104,872 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Invesco NASDAQ Internet ETF in the 2nd quarter valued at approximately $1,568,000. Benjamin Edwards Inc. acquired a new position in Invesco NASDAQ Internet ETF during the 3rd quarter worth approximately $687,000. Finally, FMR LLC grew its stake in shares of Invesco NASDAQ Internet ETF by 53.1% during the 3rd quarter. FMR LLC now owns 20,909 shares of the company’s stock worth $908,000 after acquiring an additional 7,251 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.