Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.3% during trading on Wednesday . The stock traded as high as $481.06 and last traded at $472.94. 17,413,305 shares traded hands during trading, a decline of 50% from the average session volume of 35,034,368 shares. The stock had previously closed at $471.60.

Invesco QQQ Stock Performance

The firm’s 50 day moving average is $517.19 and its 200-day moving average is $504.07. The stock has a market capitalization of $301.38 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC lifted its stake in shares of Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the period. NWI Management LP boosted its position in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. Senator Investment Group LP acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after purchasing an additional 895,277 shares during the period. 44.58% of the stock is 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.