Invesco QQQ (NASDAQ:QQQ) Trading Up 1.2% – Should You Buy?

Invesco QQQ (NASDAQ:QQQGet Free Report) shares rose 1.2% during trading on Wednesday . The company traded as high as $518.79 and last traded at $519.23. Approximately 9,653,825 shares changed hands during trading, a decline of 69% from the average daily volume of 30,719,033 shares. The stock had previously closed at $513.32.

Invesco QQQ Stock Up 0.4 %

The stock’s 50 day moving average is $522.57 and its 200 day moving average is $502.54. The firm has a market cap of $327.74 billion, a price-to-earnings ratio of 33.43 and a beta of 1.09.

Invesco QQQ Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently made changes to their positions in QQQ. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after acquiring an additional 2,059 shares during the last quarter. Principal Financial Group Inc. increased its stake in Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares in the last quarter. Socha Financial Group LLC grew its position in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. NRI Wealth Management LC bought a new stake in shares of Invesco QQQ in the fourth quarter valued at about $28,729,000. Finally, Garden State Investment Advisory Services LLC lifted its position in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

(Get Free Report)

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.

Further Reading

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