Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.7% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.7% on Wednesday . The company traded as high as $479.50 and last traded at $477.91. 7,605,889 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 34,800,606 shares. The stock had previously closed at $474.54.

Invesco QQQ Trading Up 0.9 %

The firm has a market cap of $301.77 billion, a P/E ratio of 30.74 and a beta of 1.11. The business’s fifty day simple moving average is $513.24 and its 200-day simple moving average is $504.15.

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 paid a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its stake in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares in the last quarter. NWI Management LP increased its holdings in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. Senator Investment Group LP purchased a new stake in shares of Invesco QQQ in the fourth quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its stake in Invesco QQQ by 1,337.4% during the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after buying an additional 895,277 shares during the period. Institutional investors 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.