Invesco QQQ (NASDAQ:QQQ) Trading 0.2% Higher – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) was up 0.2% on Thursday . The stock traded as high as $529.02 and last traded at $527.80. Approximately 6,815,198 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 32,102,303 shares. The stock had previously closed at $526.85.

Invesco QQQ Stock Up 0.3 %

The company has a 50-day simple moving average of $520.51 and a two-hundred day simple moving average of $495.05.

Invesco QQQ Dividend Announcement

The business 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 large investors have recently added to or reduced their stakes in the stock. Stephens Consulting LLC increased its stake in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after acquiring an additional 19 shares during the last quarter. Northeast Investment Management lifted its holdings in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the period. Planning Capital Management Corp lifted its holdings in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the period. Cardinal Point Capital Management ULC lifted its holdings in Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after buying an additional 20 shares during the period. Finally, Hoese & Co LLP lifted its holdings in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

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.