Invesco QQQ (NASDAQ:QQQ) Stock Price Up 3% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) shares were up 3% during mid-day trading on Tuesday . The company traded as high as $443.14 and last traded at $436.49. Approximately 33,198,888 shares changed hands during trading, a decline of 19% from the average daily volume of 41,101,410 shares. The stock had previously closed at $423.69.

Invesco QQQ Price Performance

The firm’s 50-day moving average price is $499.65 and its 200-day moving average price is $504.39. The stock has a market cap of $267.02 billion, a P/E ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC raised its stake in shares of Invesco QQQ by 51,292.3% in the fourth 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 acquiring an additional 11,478,188 shares during the period. Ameriprise Financial Inc. grew its position in shares of Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares in the last quarter. Toronto Dominion Bank lifted its stake in Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after acquiring an additional 488,815 shares during the period. Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Company Profile

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.