Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price was up 0.2% during mid-day trading on Thursday . The stock traded as high as $485.89 and last traded at $485.57. Approximately 12,129,619 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 34,805,691 shares. The stock had previously closed at $484.38.

Invesco QQQ Stock Down 0.1 %

The company has a market cap of $305.04 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. The business has a fifty day simple moving average of $510.12 and a 200 day simple moving average of $504.83.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

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