Invesco QQQ (NASDAQ:QQQ) Trading 1.9% Higher – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 1.9% during trading on Friday . The stock traded as high as $477.51 and last traded at $477.10. 14,402,614 shares were traded during trading, a decline of 59% from the average session volume of 35,019,846 shares. The stock had previously closed at $468.34.

Invesco QQQ Stock Performance

The stock has a market capitalization of $302.32 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The company’s 50 day moving average is $515.67 and its 200 day moving average is $503.63.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently made changes to their positions in QQQ. Proficio Capital Partners LLC raised its stake in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. NWI Management LP grew its holdings in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ in the 4th quarter worth about $679,936,000. Finally, Artemis Wealth Advisors LLC grew its holdings in shares of Invesco QQQ by 1,337.4% in the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after purchasing an additional 895,277 shares during the last quarter. Institutional investors and hedge funds 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.