Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% – Still a Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) rose 0.2% during trading on Tuesday . The stock traded as high as $524.69 and last traded at $522.98. Approximately 9,043,764 shares were traded during trading, a decline of 73% from the average daily volume of 33,029,555 shares. The stock had previously closed at $521.74.

Invesco QQQ Price Performance

The stock’s 50 day simple moving average is $516.10 and its two-hundred day simple moving average is $492.33.

Invesco QQQ Dividend Announcement

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 of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its stake in Invesco QQQ by 9.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,491 shares of the exchange traded fund’s stock valued at $714,000 after purchasing an additional 125 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Invesco QQQ by 35.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,081 shares of the exchange traded fund’s stock valued at $1,476,000 after acquiring an additional 801 shares during the last quarter. 1832 Asset Management L.P. increased its position in Invesco QQQ by 1.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,448 shares of the exchange traded fund’s stock worth $1,173,000 after purchasing an additional 25 shares in the last quarter. Commonwealth Financial Services LLC increased its holdings in shares of Invesco QQQ by 16.7% during the second quarter. Commonwealth Financial Services LLC now owns 54,374 shares of the exchange traded fund’s stock worth $27,043,000 after buying an additional 7,795 shares in the last quarter. Finally, Certified Advisory Corp lifted its stake in shares of Invesco QQQ by 5.6% in the 2nd quarter. Certified Advisory Corp now owns 51,550 shares of the exchange traded fund’s stock valued at $24,698,000 after acquiring an additional 2,718 shares during the last quarter. 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.