Invesco QQQ (NASDAQ:QQQ) Trading 0.7% Higher – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) traded up 0.7% during trading on Wednesday . The company traded as high as $479.50 and last traded at $477.91. 7,605,889 shares were traded during mid-day trading, a decline of 78% from the average session volume of 34,800,606 shares. The stock had previously closed at $474.54.

Invesco QQQ Stock Down 1.2 %

The firm has a market capitalization of $298.44 billion, a PE ratio of 30.74 and a beta of 1.11. The business’s fifty day moving average price is $511.83 and its 200 day moving average price is $503.82.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SOA Wealth Advisors LLC. increased its stake in Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after buying an additional 46 shares during the period. Commerce Bank increased its stake in shares of Invesco QQQ by 7.1% during the third quarter. Commerce Bank now owns 43,796 shares of the exchange traded fund’s stock worth $21,376,000 after acquiring an additional 2,898 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Invesco QQQ by 32.1% during the third quarter. Citizens Financial Group Inc. RI now owns 122,563 shares of the exchange traded fund’s stock worth $59,819,000 after acquiring an additional 29,816 shares during the period. King Luther Capital Management Corp raised its holdings in Invesco QQQ by 9.1% during the third quarter. King Luther Capital Management Corp now owns 9,138 shares of the exchange traded fund’s stock worth $4,460,000 after purchasing an additional 766 shares in the last quarter. Finally, Cypress Capital Group lifted its position in Invesco QQQ by 1.7% in the third quarter. Cypress Capital Group now owns 23,378 shares of the exchange traded fund’s stock valued at $11,410,000 after purchasing an additional 383 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

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.