Invesco QQQ (NASDAQ:QQQ) Sets New 12-Month High – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) reached a new 52-week high on Tuesday . The company traded as high as $609.36 and last traded at $607.71, with a volume of 41722524 shares changing hands. The stock had previously closed at $603.18.

Invesco QQQ Stock Performance

The business has a fifty day simple moving average of $580.65 and a two-hundred day simple moving average of $533.42.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Orgel Wealth Management LLC lifted its holdings in Invesco QQQ by 4.7% in the third quarter. Orgel Wealth Management LLC now owns 382 shares of the exchange traded fund’s stock valued at $229,000 after buying an additional 17 shares during the period. Compass Financial Services Inc increased its stake in Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. increased its stake in Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after purchasing an additional 20 shares in the last quarter. Barrett & Company Inc. increased its stake in Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after purchasing an additional 20 shares in the last quarter. Finally, Investment Advisory Group LLC increased its stake in Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock valued at $3,158,000 after purchasing an additional 20 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.