With all the talk about the Nasdaq’s rise and chatter increasing that the Nasdaq Composite and the PowerShares QQQ (NasdaqGM: QQQ) could return to record highs, it would stand to reason that at least a few Internet stocks have been enjoying decent runs of late.
That would be an accurate assessment as the PowerShares NASDAQ Internet Portfolio (NasdaqGM: PNQI) gained 1% Thursday on volume that was 10% above the daily average to touch a new all-time high. PNQI has fought throw what is usually a seasonally weak period for Internet stocks to post an almost 8.2% year-to-date gain. [Another View on Internet ETFs]
In just the past month, PNQI is up nearly 12% and has brought in $45.2 million of its $388.4 million in assets under management, according to PowerShares data.
Looking at how close several of PNQI’s top-10 holdings are to new highs and combining that with the fact that March and April are often kind to U.S. stocks, PNQI is well-positioned to keep climbing. [Spring Upside for Equity ETFs]
Here is a look at PNQI’s top-10 holdings as of Feb. 26.
