Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) shares shot up 0.5% on Thursday . The company traded as high as $484.55 and last traded at $483.26. 10,789,804 shares changed hands during 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 company has a 50 day moving average of $511.30 and a 200 day moving average of $503.85. The firm has a market cap of $303.05 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Dividend Announcement

The firm 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 was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp lifted its position in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Hoese & Co LLP increased its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is currently 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.