Invesco QQQ (NASDAQ:QQQ) Trading 0.6% Higher – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 0.6% during trading on Friday . The stock traded as high as $533.17 and last traded at $529.44. Approximately 9,599,155 shares were traded during trading, a decline of 74% from the average daily volume of 37,118,438 shares. The stock had previously closed at $526.50.

Invesco QQQ Stock Up 0.8 %

The business’s 50-day moving average is $503.79 and its two-hundred day moving average is $483.96.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.51%.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC increased its stake in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its position in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after acquiring an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. acquired a new stake in shares of Invesco QQQ in the 2nd quarter worth $215,600,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.