Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 2% during mid-day trading on Wednesday . The stock traded as high as $516.73 and last traded at $514.96. Approximately 13,188,776 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 31,919,551 shares. The stock had previously closed at $505.08.

Invesco QQQ Stock Performance

The firm’s 50 day simple moving average is $515.79 and its 200 day simple moving average is $491.80.

Invesco QQQ Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of Invesco QQQ

A number of hedge funds have recently bought and sold shares of QQQ. Hoese & Co LLP lifted its holdings in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC increased its holdings in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the period. BNP Paribas purchased a new position in shares of Invesco QQQ during the third quarter worth $62,000. Brooklyn Investment Group purchased a new position in shares of Invesco QQQ during the 4th quarter valued at about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE raised its position in Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other 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.