Invesco QQQ (NASDAQ:QQQ) Hits New 1-Year High – Should You Buy?

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $650.20 and last traded at $646.5030, with a volume of 14224597 shares traded. The stock had previously closed at $646.79.

Invesco QQQ News Roundup

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Trading Down 0.1%

The business has a 50-day moving average price of $602.34 and a two-hundred day moving average price of $611.08.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goodman Advisory Group LLC bought a new position in Invesco QQQ in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ during the 4th quarter worth $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the 3rd quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ in the 4th quarter worth about $29,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

(Get Free Report)

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.

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