Invesco QQQ (NASDAQ:QQQ) Trading Up 1.7% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price was up 1.7% during trading on Monday . The company traded as high as $527.80 and last traded at $527.40. Approximately 11,194,145 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 24,965,090 shares. The stock had previously closed at $518.58.

Invesco QQQ Trading Up 0.0 %

The company has a fifty day moving average price of $513.51 and a 200 day moving average price of $490.39.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northeast Investment Management raised its stake in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp raised its position in Invesco QQQ by 7.1% in the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after buying an additional 20 shares during the last quarter. Skyline Advisors Inc. lifted its stake in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Madden Advisory Services Inc. raised its holdings in shares of Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the last quarter. Finally, Meridian Management Co. lifted its position in shares of Invesco QQQ by 0.6% during the third quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock valued at $1,640,000 after purchasing an additional 21 shares in 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.