Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Sees Large Drop in Short Interest

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 35,979 shares, a drop of 49.7% from the December 15th total of 71,565 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,457 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 28,457 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.3% of the shares of the stock are sold short.

Invesco NASDAQ Internet ETF Price Performance

PNQI stock traded down $0.31 during mid-day trading on Thursday, hitting $52.73. 57,182 shares of the stock were exchanged, compared to its average volume of 46,128. The stock has a market capitalization of $761.42 million, a price-to-earnings ratio of 30.49 and a beta of 1.21. Invesco NASDAQ Internet ETF has a 12 month low of $37.75 and a 12 month high of $57.22. The business has a fifty day moving average price of $53.91 and a 200 day moving average price of $54.11.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in Invesco NASDAQ Internet ETF by 3.2% during the third quarter. Bank of America Corp DE now owns 241,299 shares of the company’s stock valued at $13,472,000 after buying an additional 7,416 shares during the period. Raymond James Financial Inc. lifted its holdings in Invesco NASDAQ Internet ETF by 0.8% in the 2nd quarter. Raymond James Financial Inc. now owns 165,485 shares of the company’s stock worth $8,640,000 after buying an additional 1,305 shares during the period. PFG Advisors grew its position in shares of Invesco NASDAQ Internet ETF by 5.1% in the 3rd quarter. PFG Advisors now owns 98,280 shares of the company’s stock worth $5,487,000 after buying an additional 4,807 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Invesco NASDAQ Internet ETF by 18.2% in the 2nd quarter. Osaic Holdings Inc. now owns 79,051 shares of the company’s stock worth $4,127,000 after buying an additional 12,178 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Invesco NASDAQ Internet ETF by 1.3% during the third quarter. Truist Financial Corp now owns 73,501 shares of the company’s stock valued at $4,103,000 after buying an additional 911 shares during the period.

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.