Invesco QQQ (NASDAQ:QQQ) Shares Up 0.7% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.7% on Friday . The company traded as high as $526.19 and last traded at $525.22. 5,875,645 shares changed hands during trading, a decline of 84% from the average session volume of 37,364,762 shares. The stock had previously closed at $521.81.

Invesco QQQ Price Performance

The firm has a fifty day moving average of $498.80 and a 200-day moving average of $480.87.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, September 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QQQ. Socha Financial Group LLC boosted its position in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares during the period. Archer Investment Corp boosted its position in Invesco QQQ by 10.2% during the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares during the period. Bank Hapoalim BM grew its stake in shares of Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Garden State Investment Advisory Services LLC increased its holdings in shares of Invesco QQQ by 20.7% during the third quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock valued at $16,191,000 after purchasing an additional 5,673 shares during the period. Finally, Marco Investment Management LLC raised its stake in shares of Invesco QQQ by 48.1% during the third quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.