QQQ - PNQI: I'm Buying This Tech Stock ETF Instead Of QQQ

2024-05-14 23:56:01 ET

Summary

• Invesco NASDAQ Internet ETF (PNQI) is a tech-focused ETF with $751 million in assets and a diversified portfolio of about 80 positions.
• PNQI has been in an uptrend since late last year, with a 50-day moving average of $40.60 and a 200-day moving average of $35.21.
• The top holdings of PNQI include Alphabet, Amazon, and Apple, which represent a significant portion of the portfolio and have strong growth potential.

Invesco NASDAQ Internet ETF ( PNQI ) is focused on investing in some of the largest and fastest growing tech companies. This ETF has about $751 million in assets, and it has an expense ratio of 0.60%. It holds about 80 positions, which gives investors a diversified portfolio. This ETF is not as well-known nor does it have the same level of trading or liquidity offered by the Invesco QQQ Trust ( QQQ ), but it is obviously managed by the same company, and I think that PNQI has a better portfolio (especially in terms the top 2 holdings) and therefore more upside potential than QQQ. The inception date of this fund is June 12, 2008. It has a price to earnings ratio of nearly 32 times earnings, and the forward PE is around 26. Let's take a closer look:...

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