Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.5% – Still a Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) shot up 0.5% on Thursday . The company traded as high as $484.55 and last traded at $483.26. 10,789,804 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 34,802,685 shares. The stock had previously closed at $480.89.

Invesco QQQ Stock Performance

The business has a fifty day moving average price of $512.55 and a 200 day moving average price of $503.99. The company has a market cap of $301.40 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company 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.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently made changes to their positions in QQQ. SOA Wealth Advisors LLC. increased its holdings in Invesco QQQ by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after purchasing an additional 46 shares in the last quarter. Kraft Davis & Associates LLC grew its stake in Invesco QQQ by 4.6% in the third quarter. Kraft Davis & Associates LLC now owns 6,079 shares of the exchange traded fund’s stock valued at $2,949,000 after acquiring an additional 268 shares during the period. Gemsstock Ltd. acquired a new stake in Invesco QQQ in the third quarter valued at approximately $39,094,000. Roger Wittlin Investment Advisory LLC grew its stake in Invesco QQQ by 1.3% in the third quarter. Roger Wittlin Investment Advisory LLC now owns 13,470 shares of the exchange traded fund’s stock valued at $6,574,000 after acquiring an additional 172 shares during the period. Finally, Strategy Asset Managers LLC grew its stake in Invesco QQQ by 22.0% in the third quarter. Strategy Asset Managers LLC now owns 12,991 shares of the exchange traded fund’s stock valued at $6,340,000 after acquiring an additional 2,339 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.