Invesco QQQ (NASDAQ:QQQ) Shares Up 0.7% – Still a Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 0.7% on Wednesday . The stock traded as high as $479.50 and last traded at $477.91. 7,605,889 shares changed hands 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 Price Performance

The firm has a market capitalization of $301.77 billion, a PE ratio of 30.74 and a beta of 1.11. The business’s 50 day moving average is $513.24 and its two-hundred day moving average is $504.15.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DSG Capital Advisors LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $7,087,000. Chancellor Financial Group WB LP purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $332,000. Triton Wealth Management PLLC grew its position in Invesco QQQ by 0.4% during the fourth quarter. Triton Wealth Management PLLC now owns 33,024 shares of the exchange traded fund’s stock valued at $16,708,000 after acquiring an additional 117 shares during the last quarter. 111 Capital purchased a new position in shares of Invesco QQQ during the fourth quarter worth approximately $21,956,000. Finally, Thoma Capital Management LLC bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $1,363,000. 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.