Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.4% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) traded up 0.4% during trading on Tuesday . The company traded as high as $462.38 and last traded at $459.43. 12,366,107 shares traded hands during trading, a decline of 66% from the average session volume of 36,727,433 shares. The stock had previously closed at $457.48.

Invesco QQQ Stock Performance

The company has a market capitalization of $284.79 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The company’s fifty day simple moving average is $485.93 and its two-hundred day simple moving average is $501.62.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in QQQ. Proficio Capital Partners LLC boosted its holdings in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. NWI Management LP boosted its position in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC grew its stake in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in Invesco QQQ in the fourth quarter worth $679,936,000. Institutional investors and hedge funds 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.