Invesco QQQ (NASDAQ:QQQ) Shares Up 0.8% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) shares rose 0.8% during trading on Monday . The company traded as high as $514.89 and last traded at $513.89. Approximately 8,055,847 shares traded hands during trading, a decline of 79% from the average daily volume of 37,638,383 shares. The stock had previously closed at $509.74.

Invesco QQQ Stock Up 1.0 %

The business has a 50 day simple moving average of $496.13 and a 200-day simple moving average of $479.38.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Invesco QQQ by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock valued at $7,779,000 after purchasing an additional 832 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Invesco QQQ during the first quarter worth $210,000. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 165.0% during the second quarter. GAMMA Investing LLC now owns 1,060 shares of the exchange traded fund’s stock valued at $508,000 after purchasing an additional 660 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Invesco QQQ by 23.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,445 shares of the exchange traded fund’s stock valued at $692,000 after purchasing an additional 277 shares during the period. Finally, Moody National Bank Trust Division acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at $203,000. 44.58% of the stock is currently owned by institutional investors.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.