Invesco QQQ (NASDAQ:QQQ) Shares Up 2.2% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 2.2% during trading on Monday . The stock traded as high as $624.31 and last traded at $623.23. 55,345,789 shares changed hands during trading, an increase of 16% from the average session volume of 47,588,688 shares. The stock had previously closed at $609.74.

Invesco QQQ Stock Performance

The firm has a 50-day moving average of $601.34 and a 200 day moving average of $560.76.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were given a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.4%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Dempsey Capital Management LLC bought a new stake in Invesco QQQ in the 2nd quarter valued at about $30,000. Navigoe LLC grew its stake in Invesco QQQ by 300.0% in the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. PayPay Securities Corp raised its position in shares of Invesco QQQ by 78.9% during the third quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund’s stock worth $41,000 after purchasing an additional 30 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Invesco QQQ in the 3rd quarter worth $42,000. 44.58% of the stock is owned by institutional investors.

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.