Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) shot up 0% during trading on Wednesday . The company traded as high as $516.29 and last traded at $515.20. 9,040,597 shares were traded during mid-day trading, a decline of 69% from the average session volume of 29,349,512 shares. The stock had previously closed at $515.18.

Invesco QQQ Trading Down 0.2 %

The stock has a 50-day moving average price of $513.51 and a 200 day moving average price of $490.39.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Bridge LLC lifted its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the period. BNP Paribas acquired a new position in Invesco QQQ in the third quarter valued at approximately $62,000. Ritter Daniher Financial Advisory LLC DE grew its stake in Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after acquiring an additional 63 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $76,000. Finally, Ashton Thomas Securities LLC bought a new stake in Invesco QQQ during the 3rd quarter valued at $91,000. Institutional investors own 44.58% of the company’s stock.

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.