Invesco QQQ (NASDAQ:QQQ) Trading Up 1.2% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) was up 1.2% on Tuesday . The stock traded as high as $524.79 and last traded at $524.19. Approximately 8,873,259 shares were traded during trading, a decline of 73% from the average daily volume of 32,960,184 shares. The stock had previously closed at $518.11.

Invesco QQQ Stock Up 1.1 %

The stock has a fifty day simple moving average of $519.78 and a two-hundred day simple moving average of $494.47.

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 given a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. PayPay Securities Corp raised its position 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 last quarter. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $37,000. Hoese & Co LLP raised its holdings 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 buying an additional 20 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Invesco QQQ during the 4th quarter worth approximately $51,000. Finally, Legacy Bridge LLC increased its position in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the period. 44.58% of the stock is currently 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.