Invesco QQQ (NASDAQ:QQQ) Shares Up 0% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) shares shot up 0% during mid-day trading on Thursday . The stock traded as high as $519.06 and last traded at $516.84. 7,899,530 shares changed hands during trading, a decline of 75% from the average session volume of 31,717,213 shares. The stock had previously closed at $516.70.

Invesco QQQ Stock Performance

The company’s 50-day moving average price is $515.57 and its 200-day moving average price is $491.47.

Invesco QQQ Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

A number of large investors have recently modified their holdings of QQQ. Hoese & Co LLP raised its position in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. Amplius Wealth Advisors LLC raised its holdings in Invesco QQQ by 1.5% in the fourth quarter. Amplius Wealth Advisors LLC now owns 68,767 shares of the exchange traded fund’s stock valued at $35,154,000 after acquiring an additional 1,028 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Invesco QQQ by 2.4% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,908 shares of the exchange traded fund’s stock valued at $3,020,000 after acquiring an additional 137 shares in the last quarter. Zhang Financial LLC lifted its stake in Invesco QQQ by 11.9% in the fourth quarter. Zhang Financial LLC now owns 6,046 shares of the exchange traded fund’s stock worth $3,091,000 after acquiring an additional 642 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Invesco QQQ by 3.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,216 shares of the exchange traded fund’s stock worth $622,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors 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.