Invesco QQQ (NASDAQ:QQQ) Trading 0.7% Higher – Should You Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.7% on Tuesday . The company traded as high as $470.34 and last traded at $472.12. Approximately 13,451,417 shares changed hands during trading, a decline of 62% from the average daily volume of 35,058,642 shares. The stock had previously closed at $468.92.

Invesco QQQ Stock Up 0.7 %

The firm has a market cap of $302.05 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. The firm has a fifty day moving average price of $505.23 and a 200-day moving average price of $505.09.

Invesco QQQ Cuts Dividend

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

Institutional Trading of Invesco QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PayPay Securities Corp grew its holdings in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter worth $36,000. Roxbury Financial LLC acquired a new position in Invesco QQQ in the fourth quarter valued at $37,000. Finally, Hoese & Co LLP boosted its holdings in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors 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.