Short Interest in Invesco NASDAQ Internet ETF (NASDAQ:PNQI) Decreases By 16.3%

Invesco NASDAQ Internet ETF (NASDAQ:PNQI) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 583,600 shares, a decrease of 16.3% from the February 13th total of 697,400 shares. Based on an average daily volume of 97,500 shares, the days-to-cover ratio is presently 6.0 days. Currently, 3.3% of the shares of the company are sold short.

Invesco NASDAQ Internet ETF Stock Down 0.2 %

Invesco NASDAQ Internet ETF stock traded down $0.10 during mid-day trading on Thursday, reaching $45.31. The company had a trading volume of 10,432 shares, compared to its average volume of 69,929. The company has a 50 day moving average of $48.10 and a 200-day moving average of $46.12. Invesco NASDAQ Internet ETF has a 52 week low of $36.00 and a 52 week high of $51.32. The firm has a market cap of $806.14 million, a price-to-earnings ratio of 29.10 and a beta of 1.15.

Institutional Investors Weigh In On Invesco NASDAQ Internet ETF

Several hedge funds have recently made changes to their positions in PNQI. Raymond James Financial Inc. bought a new position in Invesco NASDAQ Internet ETF during the fourth quarter valued at about $7,875,000. Bank of Montreal Can bought a new stake in shares of Invesco NASDAQ Internet ETF during the third quarter valued at approximately $5,401,000. Jane Street Group LLC raised its stake in shares of Invesco NASDAQ Internet ETF by 39.0% in the third quarter. Jane Street Group LLC now owns 373,571 shares of the company’s stock valued at $16,232,000 after purchasing an additional 104,872 shares in the last quarter. Grant GrossMendelsohn LLC bought a new position in Invesco NASDAQ Internet ETF in the fourth quarter worth $3,151,000. Finally, Two Sigma Investments LP bought a new position in Invesco NASDAQ Internet ETF in the fourth quarter worth $2,554,000.

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.