Invesco QQQ (NASDAQ:QQQ) Trading 0.1% Higher – Should You Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) were up 0.1% during trading on Thursday . The company traded as high as $447.37 and last traded at $444.57. Approximately 12,369,996 shares traded hands during trading, a decline of 66% from the average daily volume of 36,625,026 shares. The stock had previously closed at $444.18.

Invesco QQQ Stock Down 0.1 %

The firm has a market cap of $284.56 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The stock’s 50 day moving average is $482.54 and its 200 day moving average is $501.06.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently modified their holdings of QQQ. PayPay Securities Corp boosted its stake in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $36,000. Roxbury Financial LLC acquired a new position in Invesco QQQ during the fourth quarter valued at $37,000. Finally, Hoese & Co LLP lifted its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.