Short Interest in Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Increases By 34.9%

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 95,743 shares, a growth of 34.9% from the February 26th total of 70,964 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 104,647 shares, the days-to-cover ratio is presently 0.9 days.

Invesco NASDAQ Internet ETF Trading Up 0.7%

NASDAQ:PNQI opened at $43.19 on Tuesday. Invesco NASDAQ Internet ETF has a 1 year low of $37.75 and a 1 year high of $57.22. The stock has a market cap of $565.79 million, a price-to-earnings ratio of 30.49 and a beta of 1.21. The stock has a 50-day moving average price of $47.68 and a two-hundred day moving average price of $52.21.

Hedge Funds Weigh In On Invesco NASDAQ Internet ETF

Several institutional investors and hedge funds have recently modified their holdings of PNQI. FFG Partners LLC acquired a new position in shares of Invesco NASDAQ Internet ETF in the third quarter valued at approximately $575,000. Osaic Holdings Inc. lifted its stake in Invesco NASDAQ Internet ETF by 18.2% in the 2nd quarter. Osaic Holdings Inc. now owns 79,051 shares of the company’s stock valued at $4,127,000 after acquiring an additional 12,178 shares in the last quarter. TruWealth Advisors LLC acquired a new position in Invesco NASDAQ Internet ETF during the 3rd quarter worth approximately $210,000. SeaCrest Wealth Management LLC grew its stake in shares of Invesco NASDAQ Internet ETF by 5.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 24,006 shares of the company’s stock worth $1,309,000 after acquiring an additional 1,290 shares in the last quarter. Finally, KKM Financial LLC raised its holdings in shares of Invesco NASDAQ Internet ETF by 14.1% in the third quarter. KKM Financial LLC now owns 5,946 shares of the company’s stock valued at $332,000 after purchasing an additional 737 shares during the last quarter.

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.