Summary
- PNQI's investment strategy is based on the modified market cap-weighted Nasdaq CTA Internet Index.
- The pandemic supercharged its meteoric rise. This year, it has been through the wringer as tailwinds dissipated and the higher interest rate era arrived.
- Although PNQI has fairly decent profitability characteristics (with nuances), its valuation is worrisome. The risks are too high and uncertainty still reigns.
- In this regard, I am of the opinion that neither PNQI nor its peer funds targeting high-growth stocks offer value at this point.
For further details see:
PNQI: Neither Value Nor Quality Is Attractive Enough