Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) Sees Strong Trading Volume – Should You Buy?

Shares of Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) saw unusually-strong trading volume on Tuesday . Approximately 74,201 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 109,047 shares.The stock last traded at $32.36 and had previously closed at $32.64.

Invesco NASDAQ Next Gen 100 ETF Stock Down 0.6 %

The stock has a fifty day simple moving average of $30.90 and a 200 day simple moving average of $29.24. The firm has a market capitalization of $698.00 million, a P/E ratio of 21.16 and a beta of 1.10.

Invesco NASDAQ Next Gen 100 ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were issued a $0.046 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.18 dividend on an annualized basis and a yield of 0.57%.

Institutional Investors Weigh In On Invesco NASDAQ Next Gen 100 ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in Invesco NASDAQ Next Gen 100 ETF by 1.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,368,026 shares of the company’s stock valued at $38,127,000 after acquiring an additional 21,719 shares in the last quarter. Denver PWM LLC bought a new stake in shares of Invesco NASDAQ Next Gen 100 ETF in the second quarter worth about $84,000. SteelPeak Wealth LLC purchased a new stake in shares of Invesco NASDAQ Next Gen 100 ETF in the second quarter worth about $1,767,000. Cornerstone Wealth Management LLC boosted its stake in Invesco NASDAQ Next Gen 100 ETF by 7.7% during the second quarter. Cornerstone Wealth Management LLC now owns 26,808 shares of the company’s stock valued at $747,000 after buying an additional 1,906 shares during the last quarter. Finally, Goodman Advisory Group LLC grew its holdings in Invesco NASDAQ Next Gen 100 ETF by 114.6% during the 2nd quarter. Goodman Advisory Group LLC now owns 1,369 shares of the company’s stock valued at $38,000 after buying an additional 731 shares in the last quarter.

Invesco NASDAQ Next Gen 100 ETF Company Profile

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.