Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Reaches New 1-Year High – Time to Buy?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $212.27 and last traded at $212.23, with a volume of 815993 shares changing hands. The stock had previously closed at $209.80.

Invesco NASDAQ 100 ETF Price Performance

The company has a market capitalization of $36.11 billion, a price-to-earnings ratio of 34.39 and a beta of 1.18. The stock has a fifty day simple moving average of $204.19 and a 200-day simple moving average of $197.29.

Invesco NASDAQ 100 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Monday, September 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Invesco NASDAQ 100 ETF by 1,650.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,760,864 shares of the company’s stock valued at $1,529,744,000 after purchasing an additional 7,317,531 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in Invesco NASDAQ 100 ETF by 13.9% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,178,000 shares of the company’s stock valued at $1,240,851,000 after buying an additional 754,700 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Invesco NASDAQ 100 ETF by 10,544.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 4,016,689 shares of the company’s stock valued at $7,917,000 after buying an additional 3,978,954 shares in the last quarter. National Mutual Insurance Federation of Agricultural Cooperatives grew its holdings in Invesco NASDAQ 100 ETF by 260.2% in the 3rd quarter. National Mutual Insurance Federation of Agricultural Cooperatives now owns 2,370,000 shares of the company’s stock valued at $476,014,000 after buying an additional 1,712,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Invesco NASDAQ 100 ETF by 19.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,714,506 shares of the company’s stock valued at $337,951,000 after buying an additional 283,257 shares in the last quarter.

About Invesco NASDAQ 100 ETF

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.