Invesco QQQ (NASDAQ:QQQ) Shares Up 0.7% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 0.7% during mid-day trading on Friday . The company traded as high as $509.51 and last traded at $508.79. 6,551,187 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 37,728,883 shares. The stock had previously closed at $505.30.

Invesco QQQ Stock Up 0.9 %

The business’s 50 day moving average is $495.58 and its 200-day moving average is $478.50.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.53%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently made changes to their positions in QQQ. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC raised its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the period. PFG Private Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the last quarter. Finally, Legacy Bridge LLC boosted its position in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the period. 44.58% of the stock is currently owned by institutional investors.

About Invesco QQQ

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.