Invesco QQQ (NASDAQ:QQQ) Shares Up 1% – Still a Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) were up 1% during trading on Monday . The company traded as high as $536.08 and last traded at $535.58. Approximately 7,358,033 shares changed hands during trading, a decline of 80% from the average daily volume of 37,074,129 shares. The stock had previously closed at $530.53.

Invesco QQQ Stock Up 1.4 %

The stock’s 50 day moving average is $503.79 and its two-hundred day moving average is $484.15.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently made changes to their positions in the stock. 1ST Source Bank grew its holdings in Invesco QQQ by 0.8% in the 3rd quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund’s stock valued at $2,312,000 after buying an additional 38 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after acquiring an additional 3,581 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in Invesco QQQ during the third quarter worth about $550,000. Little Harbor Advisors LLC increased its position in Invesco QQQ by 7.5% during the third quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund’s stock worth $9,169,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Old North State Trust LLC raised its stake in Invesco QQQ by 3.9% during the third quarter. Old North State Trust LLC now owns 1,437 shares of the exchange traded fund’s stock worth $701,000 after purchasing an additional 54 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.