Invesco QQQ (NASDAQ:QQQ – Get Free Report)’s stock price shot up 0% during mid-day trading on Wednesday . The company traded as high as $474.83 and last traded at $473.55. 4,793,047 shares changed hands during trading, a decline of 88% from the average session volume of 40,067,613 shares. The stock had previously closed at $473.49.
Invesco QQQ Stock Performance
The stock’s 50 day moving average is $468.32 and its two-hundred day moving average is $458.07.
Hedge Funds Weigh In On Invesco QQQ
Hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. 44.58% of the stock is currently 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.
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