Invesco QQQ (NASDAQ:QQQ) Shares Up 1.7% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price was up 1.7% during mid-day trading on Monday . The company traded as high as $527.80 and last traded at $527.40. Approximately 11,194,145 shares were traded during trading, a decline of 55% from the average daily volume of 24,965,090 shares. The stock had previously closed at $518.58.

Invesco QQQ Stock Performance

The firm’s fifty day moving average price is $512.63 and its 200 day moving average price is $489.84.

Invesco QQQ Dividend Announcement

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

Institutional Trading of Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the business. Legacy Bridge LLC increased its holdings in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas bought a new position in shares of Invesco QQQ in the third quarter valued at approximately $62,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of 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 worth $71,000 after buying an additional 63 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the 2nd quarter worth $76,000. Finally, Ashton Thomas Securities LLC acquired a new position in Invesco QQQ in the 3rd quarter valued at $91,000. 44.58% of the stock is currently 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.