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

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 14,692 shares, a drop of 47.5% from the January 15th total of 27,980 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 187,109 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 187,109 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of Invesco NASDAQ Internet ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new position in shares of Invesco NASDAQ Internet ETF during the 2nd quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in Invesco NASDAQ Internet ETF during the fourth quarter worth approximately $40,000. Huntington National Bank purchased a new position in Invesco NASDAQ Internet ETF in the third quarter valued at approximately $56,000. Bartlett & CO. Wealth Management LLC purchased a new position in Invesco NASDAQ Internet ETF in the third quarter valued at approximately $61,000. Finally, Advisory Services Network LLC acquired a new stake in Invesco NASDAQ Internet ETF during the third quarter worth approximately $73,000.

Invesco NASDAQ Internet ETF Stock Down 2.8%

NASDAQ PNQI traded down $1.34 during trading hours on Thursday, hitting $45.95. 51,787 shares of the company were exchanged, compared to its average volume of 126,140. The firm has a market cap of $601.95 million, a price-to-earnings ratio of 30.49 and a beta of 1.21. The company has a 50 day moving average of $52.77 and a two-hundred day moving average of $53.90. Invesco NASDAQ Internet ETF has a 52-week low of $37.75 and a 52-week high of $57.22.

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.