Invesco QQQ (NASDAQ:QQQ) Trading Up 1.4% – Still a Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 1.4% during trading on Wednesday . The stock traded as high as $530.05 and last traded at $529.96. 17,558,215 shares were traded during trading, a decline of 53% from the average session volume of 37,241,500 shares. The stock had previously closed at $522.87.

Invesco QQQ Stock Down 0.1 %

The business’s 50 day simple moving average is $510.08 and its 200 day simple moving average is $488.10.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.8347 per share. The ex-dividend date of this dividend is Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently modified their holdings of the stock. Mechanics Financial Corp bought a new position in Invesco QQQ during the second quarter valued at $30,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the last quarter. BNP Paribas bought a new stake in Invesco QQQ in the third quarter worth about $62,000. Bray Capital Advisors lifted its stake in Invesco QQQ by 78.0% in the second quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 64 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after buying an additional 63 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

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.