Invesco QQQ (NASDAQ:QQQ) Shares Up 0.3% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) rose 0.3% during trading on Tuesday . The company traded as high as $477.08 and last traded at $473.92. Approximately 21,065,494 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 34,962,935 shares. The stock had previously closed at $472.73.

Invesco QQQ Stock Performance

The stock has a market capitalization of $299.66 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The business has a fifty day simple moving average of $517.98 and a 200 day simple moving average of $504.13.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after buying an additional 2,059 shares during the period. Principal Financial Group Inc. raised its holdings in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after acquiring an additional 11,351 shares in the last quarter. NRI Wealth Management LC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $28,729,000. Garden State Investment Advisory Services LLC grew its holdings in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC grew its holdings in shares of Invesco QQQ by 16.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after purchasing an additional 6,518 shares in the last quarter. 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.