Invesco QQQ (NASDAQ:QQQ) Shares Up 0.1% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) shares traded up 0.1% on Wednesday . The company traded as high as $490.73 and last traded at $490.00. 6,267,312 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 39,380,871 shares. The stock had previously closed at $489.30.

Invesco QQQ Stock Performance

The business has a 50-day moving average price of $470.56 and a 200 day moving average price of $462.37.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Visionary Wealth Advisors grew its position in shares of Invesco QQQ by 6.3% during the 4th quarter. Visionary Wealth Advisors now owns 9,316 shares of the exchange traded fund’s stock worth $3,815,000 after purchasing an additional 556 shares in the last quarter. Hancock Whitney Corp raised its position in Invesco QQQ by 311.7% in the fourth quarter. Hancock Whitney Corp now owns 11,602 shares of the exchange traded fund’s stock worth $4,751,000 after acquiring an additional 8,784 shares during the period. BOKF NA grew its stake in Invesco QQQ by 6.6% in the 4th quarter. BOKF NA now owns 116,219 shares of the exchange traded fund’s stock worth $47,594,000 after buying an additional 7,157 shares in the last quarter. Oribel Capital Management LP boosted its position in Invesco QQQ by 109.8% during the 4th quarter. Oribel Capital Management LP now owns 2,150 shares of the exchange traded fund’s stock valued at $880,000 after buying an additional 1,125 shares during the period. Finally, First Financial Bankshares Inc bought a new position in shares of Invesco QQQ in the 4th quarter worth about $296,000. Institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

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.