Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) Hits New 52-Week High – Still a Buy?

Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.36 and last traded at $42.16, with a volume of 41507 shares trading hands. The stock had previously closed at $42.06.

Invesco NASDAQ Next Gen 100 ETF Stock Up 0.8%

The company has a 50 day simple moving average of $38.95 and a 200-day simple moving average of $38.06. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 22.27 and a beta of 1.10.

Invesco NASDAQ Next Gen 100 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were paid a dividend of $0.0551 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.22 annualized dividend and a yield of 0.5%.

Institutional Trading of Invesco NASDAQ Next Gen 100 ETF

Several institutional investors and hedge funds have recently bought and sold shares of QQQJ. Cetera Investment Advisers raised its stake in Invesco NASDAQ Next Gen 100 ETF by 8.5% during the second quarter. Cetera Investment Advisers now owns 23,587 shares of the company’s stock valued at $754,000 after buying an additional 1,840 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Invesco NASDAQ Next Gen 100 ETF by 11.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,407 shares of the company’s stock worth $205,000 after purchasing an additional 636 shares during the period. Invesco Ltd. raised its position in shares of Invesco NASDAQ Next Gen 100 ETF by 0.6% during the 2nd quarter. Invesco Ltd. now owns 54,812 shares of the company’s stock worth $1,753,000 after purchasing an additional 300 shares during the period. Baird Financial Group Inc. raised its position in shares of Invesco NASDAQ Next Gen 100 ETF by 7.1% during the 2nd quarter. Baird Financial Group Inc. now owns 16,589 shares of the company’s stock worth $531,000 after purchasing an additional 1,101 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Invesco NASDAQ Next Gen 100 ETF by 3.0% during the 2nd quarter. MML Investors Services LLC now owns 17,425 shares of the company’s stock worth $557,000 after purchasing an additional 509 shares during the period.

Invesco NASDAQ Next Gen 100 ETF Company Profile

The Invesco NASDAQ Next Gen 100 ETF (QQQJ) is an exchange-traded fund that is based on the Nasdaq Next Generation 100 index, a modified market-cap-weighted, narrow index of 100 non-financial stocks that are next-eligible for inclusion in the NASDAQ-100 Index. QQQJ was launched on Oct 13, 2020 and is issued by Invesco.