Invesco QQQ (NASDAQ:QQQ) Shares Up 0.8% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 0.8% during mid-day trading on Friday . The stock traded as high as $518.41 and last traded at $518.29. 15,174,751 shares were traded during trading, a decline of 59% from the average session volume of 37,155,430 shares. The stock had previously closed at $514.17.

Invesco QQQ Stock Up 1.7 %

The company has a fifty day moving average price of $506.74 and a 200-day moving average price of $485.78.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of the business. Lantz Financial LLC acquired a new stake in shares of Invesco QQQ in the second quarter valued at about $214,000. Everhart Financial Group Inc. increased its position in Invesco QQQ by 3.8% during the second quarter. Everhart Financial Group Inc. now owns 783 shares of the exchange traded fund’s stock worth $375,000 after purchasing an additional 29 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in Invesco QQQ by 89.9% during the second quarter. Quotient Wealth Partners LLC now owns 1,299 shares of the exchange traded fund’s stock worth $622,000 after purchasing an additional 615 shares during the period. LRI Investments LLC boosted its holdings in Invesco QQQ by 9.8% in the 2nd quarter. LRI Investments LLC now owns 1,468 shares of the exchange traded fund’s stock valued at $703,000 after purchasing an additional 131 shares during the last quarter. Finally, McAdam LLC grew its stake in shares of Invesco QQQ by 16.6% in the 2nd quarter. McAdam LLC now owns 4,718 shares of the exchange traded fund’s stock valued at $2,260,000 after buying an additional 670 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.