Invesco QQQ (NASDAQ:QQQ) Shares Up 0.9% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) shot up 0.9% during trading on Tuesday . The stock traded as high as $519.55 and last traded at $518.77. 12,228,654 shares changed hands during trading, a decline of 63% from the average session volume of 33,021,445 shares. The stock had previously closed at $514.21.

Invesco QQQ Stock Up 1.5 %

The firm’s 50 day moving average is $518.14 and its 200-day moving average is $493.37.

Invesco QQQ Announces Dividend

The business also recently declared 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 Investors Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hoese & Co LLP grew its holdings in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares in the last quarter. Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% in the third 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 period. BNP Paribas purchased a new stake in shares of Invesco QQQ in the third quarter valued at about $62,000. Brooklyn Investment Group purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its holdings 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 valued at $71,000 after purchasing an additional 63 shares during the period. Hedge funds and other 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.