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

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $733.32 and last traded at $729.45, with a volume of 34832053 shares. The stock had previously closed at $730.28.

Invesco QQQ News Roundup

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

Invesco QQQ Trading Down 0.1%

The stock’s fifty day simple moving average is $646.52 and its 200-day simple moving average is $625.28.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were issued a dividend of $0.7328 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a yield of 0.4%.

Institutional Investors Weigh In On Invesco QQQ

Hedge funds have recently added to or reduced their stakes in the business. Goodman Advisory Group LLC acquired a new stake in Invesco QQQ during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 43 shares in the last quarter. Shcp LLC acquired a new stake in Invesco QQQ during the 3rd quarter worth approximately $27,000. Finally, Rachor Investment Advisory Services LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $29,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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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