Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.7% – Should You Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 1.7% on Friday . The company traded as high as $524.07 and last traded at $521.59. 19,224,888 shares were traded during mid-day trading, a decline of 40% from the average session volume of 31,989,871 shares. The stock had previously closed at $513.08.

Invesco QQQ Trading Up 1.9 %

The firm has a 50-day moving average of $515.79 and a two-hundred day moving average of $491.65.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently added to or reduced their stakes in the business. Northeast Investment Management lifted its position in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares in the last quarter. Planning Capital Management Corp raised its stake in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $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 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares in the last quarter. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% in the 4th 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 period. Finally, Skyline Advisors Inc. grew its holdings in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares in the last quarter. 44.58% of the stock is currently 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.