Invesco QQQ (NASDAQ:QQQ) Trading Up 1.7% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) rose 1.7% on Monday . The stock traded as high as $527.80 and last traded at $527.40. Approximately 11,194,145 shares traded hands during trading, a decline of 55% from the average daily volume of 24,965,090 shares. The stock had previously closed at $518.58.

Invesco QQQ Stock Performance

The firm has a 50 day moving average of $512.63 and a two-hundred day moving average of $489.84.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after purchasing an additional 11,351 shares during the period. GAMMA Investing LLC boosted its stake in Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after buying an additional 2,059 shares in the last quarter. Socha Financial Group LLC increased its holdings in Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after buying an additional 2,171 shares during the period. Garden State Investment Advisory Services LLC raised its stake in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after buying an additional 3,581 shares in the last quarter. Finally, NRI Wealth Management LC bought a new position in shares of Invesco QQQ during the 4th quarter worth about $28,729,000. Institutional investors and hedge funds 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.