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

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 1.7% on Monday . The stock traded as high as $524.07 and last traded at $521.74. 51,701,068 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 29,197,722 shares. The stock had previously closed at $513.08.

Invesco QQQ Stock Up 0.6 %

The firm’s fifty day moving average is $516.10 and its two-hundred day moving average is $492.33.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of QQQ. Hoese & Co LLP boosted its holdings in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC boosted 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 purchasing an additional 45 shares during the last quarter. BNP Paribas bought a new position in shares of Invesco QQQ during the 3rd quarter valued at about $62,000. Brooklyn Investment Group bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $69,000. Finally, Pacifica Partners Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $73,000. Institutional investors own 44.58% of the company’s stock.

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.