Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.3% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 1.3% on Wednesday . The company traded as high as $532.59 and last traded at $531.67. 12,687,896 shares changed hands during trading, a decline of 61% from the average session volume of 32,720,000 shares. The stock had previously closed at $524.80.

Invesco QQQ Price Performance

The company’s fifty day moving average is $517.20 and its two-hundred day moving average is $493.09.

Invesco QQQ Dividend Announcement

The company also recently announced 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 of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hoese & Co LLP grew its holdings in shares of 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 purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC grew its stake in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the last quarter. BNP Paribas acquired a new position in Invesco QQQ during the third quarter worth approximately $62,000. Brooklyn Investment Group acquired a new position in Invesco QQQ during the fourth quarter worth approximately $69,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after buying an additional 63 shares during 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.