As shares of Facebook parent Meta Platforms Inc. (META) hit a 15-month high, investors can look to two Invesco ETFs for meaningful exposure.
Shares of Meta gained more than 15% on Thursday in response to the company posting strong first-quarter earnings, bringing Meta stock’s year-to-date climb to 93%. Meta is the top holding in the Invesco NASDAQ Internet ETF (PNQI) and the Invesco Dynamic Media ETF (PBS), which the security a 9.1% weight and 6.6% weight, respectively.
Investors on Thursday celebrated Meta’s first quarter earnings beat, in which the company reported an unexpected increase in sales during the quarter and offered rosier than expected forward guidance.
Investors looking to add exposure to the strong might consider PNQI, which invests in internet firm equities from a variety of cap sizes within the NASDAQ Internet index, or PBS, which offers concentrated exposure to the U.S. media industry, focusing in on firms that either develop or distribute types of media across the country.
PNQI includes companies whose primary businesses include internet-related services including, but not limited to, internet software, internet search engines, web hosting, website design, or internet retail commerce as determined by the Consumer Technology Association (CTA). Aside from Meta, top holdings include Microsoft Corporation (MSFT), Alphabet Inc (GOOG), and Amazon.com Inc (AMZN).
PBS tracks the Dynamic Media Intellidex℠ Index, which is designed to evaluate companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action, and value. The index is comprised of 30 U.S. media companies, including Pinterest Inc. (PINS), Omnicom Group Inc (OMC), and Warner Music Group Corp (WMG).
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