Invesco QQQ (NASDAQ:QQQ) Reaches New 52-Week High – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $508.52 and last traded at $508.52, with a volume of 814379 shares changing hands. The stock had previously closed at $505.58.

Invesco QQQ Trading Up 1.1 %

The business’s 50-day moving average is $483.00 and its 200-day moving average is $470.34.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in Invesco QQQ by 7.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 223,289 shares of the exchange traded fund’s stock worth $108,981,000 after buying an additional 15,034 shares in the last quarter. Claro Advisors LLC increased its holdings in shares of Invesco QQQ by 6.7% in the third quarter. Claro Advisors LLC now owns 24,492 shares of the exchange traded fund’s stock valued at $11,954,000 after purchasing an additional 1,534 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after acquiring an additional 63 shares during the last quarter. Ceera Investments LLC raised its holdings in shares of Invesco QQQ by 10.7% during the 3rd quarter. Ceera Investments LLC now owns 1,622 shares of the exchange traded fund’s stock worth $792,000 after acquiring an additional 157 shares during the period. Finally, Beaton Management Co. Inc. boosted its position in shares of Invesco QQQ by 1.0% during the 3rd quarter. Beaton Management Co. Inc. now owns 6,932 shares of the exchange traded fund’s stock valued at $3,383,000 after acquiring an additional 70 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.