Invesco QQQ (NASDAQ:QQQ) Shares Up 0.4% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) shares rose 0.4% during trading on Tuesday . The company traded as high as $525.38 and last traded at $524.24. Approximately 5,380,028 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 37,235,676 shares. The stock had previously closed at $522.38.

Invesco QQQ Price Performance

The stock’s 50-day moving average is $500.28 and its 200 day moving average is $482.21.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently added to or reduced their stakes in the company. Socha Financial Group LLC increased its holdings in Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after purchasing an additional 2,171 shares in the last quarter. Archer Investment Corp boosted its stake in shares of Invesco QQQ by 10.2% during the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after buying an additional 4,025 shares during the last quarter. Bank Hapoalim BM boosted its stake in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after buying an additional 6,347 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its stake in shares of Invesco QQQ by 20.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock worth $16,191,000 after buying an additional 5,673 shares during the last quarter. Finally, Marco Investment Management LLC boosted its stake in shares of Invesco QQQ by 48.1% during the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock worth $4,696,000 after buying an additional 3,123 shares during the last quarter. 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.