Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) Hits New 12-Month High – Time to Buy?

Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.02 and last traded at $32.02, with a volume of 466 shares traded. The stock had previously closed at $31.54.

Invesco NASDAQ Next Gen 100 ETF Trading Up 1.9 %

The stock’s 50 day simple moving average is $30.35 and its 200 day simple moving average is $28.92. The stock has a market capitalization of $691.12 million, a P/E ratio of 21.16 and a beta of 1.10.

Invesco NASDAQ Next Gen 100 ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were given a $0.046 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.18 annualized dividend and a dividend yield of 0.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC bought a new stake in shares of Invesco NASDAQ Next Gen 100 ETF in the 3rd quarter worth approximately $17,089,000. MML Investors Services LLC boosted its holdings in shares of Invesco NASDAQ Next Gen 100 ETF by 2.8% during the third quarter. MML Investors Services LLC now owns 14,525 shares of the company’s stock valued at $441,000 after acquiring an additional 394 shares during the period. Jane Street Group LLC bought a new position in shares of Invesco NASDAQ Next Gen 100 ETF during the third quarter worth about $23,579,000. FMR LLC increased its holdings in shares of Invesco NASDAQ Next Gen 100 ETF by 60.9% in the 3rd quarter. FMR LLC now owns 6,843 shares of the company’s stock worth $208,000 after acquiring an additional 2,591 shares during the period. Finally, Proactive Wealth Strategies LLC bought a new stake in Invesco NASDAQ Next Gen 100 ETF in the 3rd quarter valued at about $406,000.

About Invesco NASDAQ Next Gen 100 ETF

The Invesco NASDAQ Next Gen 100 ETF (QQQJ) is an exchange-traded fund that is based on the Nasdaq Next Generation 100 index, a modified market-cap-weighted, narrow index of 100 non-financial stocks that are next-eligible for inclusion in the NASDAQ-100 Index. QQQJ was launched on Oct 13, 2020 and is issued by Invesco.