Invesco QQQ (NASDAQ:QQQ) Trading 1.9% Higher – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 1.9% on Monday . The company traded as high as $465.05 and last traded at $463.05. 13,366,468 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 36,705,186 shares. The stock had previously closed at $454.40.

Invesco QQQ Trading Up 1.1 %

The business’s 50-day moving average price is $490.33 and its 200-day moving average price is $502.54. The stock has a market cap of $286.96 billion, a PE ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC lifted its stake in Invesco QQQ by 51,292.3% during the 4th 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. Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. NWI Management LP boosted its holdings in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Finally, Senator Investment Group LP acquired a new position in shares of Invesco QQQ in the 4th quarter valued at about $679,936,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.