Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.3% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) shares 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 were traded during mid-day 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 Price Performance

The stock’s 50 day simple moving average is $515.67 and its two-hundred day simple moving average is $503.63. The firm has a market cap of $300.06 billion, a P/E 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. Shareholders 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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SOA Wealth Advisors LLC. increased its position in shares of Invesco QQQ by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after acquiring an additional 46 shares in the last quarter. Pettinga Financial Advisors LLC grew its position in Invesco QQQ by 13.6% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock worth $7,553,000 after purchasing an additional 1,854 shares during the period. Pinnacle Financial Partners Inc grew its position in Invesco QQQ by 3.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 20,056 shares of the exchange traded fund’s stock worth $9,789,000 after purchasing an additional 748 shares during the period. Axim Planning & Wealth bought a new stake in Invesco QQQ in the 3rd quarter worth approximately $250,000. Finally, Fortis Capital Management LLC grew its position in Invesco QQQ by 10.9% in the 3rd quarter. Fortis Capital Management LLC now owns 6,111 shares of the exchange traded fund’s stock worth $2,983,000 after purchasing an additional 602 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.