Invesco QQQ (NASDAQ:QQQ) Hits New 12-Month High – Should You Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $541.15 and last traded at $539.55, with a volume of 606673 shares changing hands. The stock had previously closed at $538.15.

Invesco QQQ Price Performance

The business has a fifty day simple moving average of $522.69 and a 200 day simple moving average of $498.89.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp raised its holdings in Invesco QQQ by 276.9% during the fourth 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 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $36,000. Roxbury Financial LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 20 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Invesco QQQ

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.