Invesco QQQ (NASDAQ:QQQ) Trading 0.8% Higher – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.8% during mid-day trading on Friday . The stock traded as high as $518.41 and last traded at $518.29. Approximately 15,174,751 shares changed hands during trading, a decline of 59% from the average daily volume of 37,155,430 shares. The stock had previously closed at $514.17.

Invesco QQQ Stock Performance

The business has a 50 day moving average of $506.74 and a 200 day moving average of $485.78.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Strategic Financial Concepts LLC raised 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 worth $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC lifted 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 acquiring an additional 894,532 shares during the period. Toronto Dominion Bank grew its stake in Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Finally, Mirae Asset Securities USA Inc. acquired a new position in shares of Invesco QQQ in the second quarter valued at about $215,600,000. 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.