Invesco QQQ (NASDAQ:QQQ) Hits New 1-Year High – Should You Buy?

Invesco QQQ (NASDAQ:QQQGet Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $650.20 and last traded at $646.5030, with a volume of 14224597 shares. The stock had previously closed at $646.79.

Key Stories Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Down 0.1%

The company has a 50 day moving average price of $602.34 and a 200-day moving average price of $611.08.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a $0.7328 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.93 annualized dividend and a yield of 0.5%.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. boosted its holdings in shares of Invesco QQQ by 1.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 3,386 shares of the exchange traded fund’s stock worth $1,954,000 after buying an additional 60 shares in the last quarter. SmartHarvest Portfolios LLC boosted its holdings in shares of Invesco QQQ by 4.3% during the 1st quarter. SmartHarvest Portfolios LLC now owns 1,454 shares of the exchange traded fund’s stock worth $839,000 after buying an additional 60 shares in the last quarter. Falcon Wealth Planning boosted its holdings in shares of Invesco QQQ by 4.2% during the 1st quarter. Falcon Wealth Planning now owns 104,439 shares of the exchange traded fund’s stock worth $60,280,000 after buying an additional 4,244 shares in the last quarter. Independent Wealth Network Inc. boosted its holdings in shares of Invesco QQQ by 37.4% during the 1st quarter. Independent Wealth Network Inc. now owns 8,936 shares of the exchange traded fund’s stock worth $5,158,000 after buying an additional 2,430 shares in the last quarter. Finally, Morton Brown Family Wealth LLC raised its position in shares of Invesco QQQ by 2.6% during the first quarter. Morton Brown Family Wealth LLC now owns 3,317 shares of the exchange traded fund’s stock worth $1,914,000 after purchasing an additional 83 shares during the period. 44.58% of the stock is currently owned by institutional investors.

About Invesco QQQ

(Get Free Report)

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.

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