Invesco QQQ (NASDAQ:QQQ) Trading 3.2% Higher – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) was up 3.2% during mid-day trading on Monday . The company traded as high as $507.06 and last traded at $503.53. Approximately 16,708,831 shares were traded during trading, a decline of 54% from the average daily volume of 36,440,399 shares. The stock had previously closed at $487.97.

Invesco QQQ Stock Performance

The business’s fifty day moving average price is $467.78 and its 200-day moving average price is $499.36. The stock has a market cap of $318.24 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Institutional Trading of Invesco QQQ

A number of institutional investors have recently made changes to their positions in the stock. PayPay Securities Corp boosted its holdings in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the fourth quarter worth approximately $36,000. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth approximately $37,000. Finally, Hoese & Co LLP boosted its holdings in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors 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.