Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.1% – Should You Buy?

by · The Markets Daily

Invesco QQQ (NASDAQ:QQQGet Free Report) was up 1.1% during trading on Monday . The company traded as high as $603.86 and last traded at $600.38. Approximately 48,369,384 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 64,219,375 shares. The stock had previously closed at $593.72.

Key Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Trading Up 1.1%

The firm’s 50 day moving average is $613.26 and its 200 day moving average is $608.93.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.7941 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, December 22nd. This represents a $3.18 dividend on an annualized basis and a dividend yield of 0.5%.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently modified their holdings of QQQ. Brighton Jones LLC lifted its stake in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after acquiring an additional 176 shares during the period. Jupiter Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 2nd quarter valued at approximately $290,000. Wealth Group Ltd. lifted its position in shares of Invesco QQQ by 283.7% in the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after acquiring an additional 18,210 shares in the last quarter. Finally, KBC Group NV boosted its stake in Invesco QQQ by 163.8% in the 2nd quarter. KBC Group NV now owns 546 shares of the exchange traded fund’s stock worth $301,000 after purchasing an additional 339 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Company Profile

(Get Free Report)

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.

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