Invesco QQQ (NASDAQ:QQQ) Shares Up 0.1% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price shot up 0.1% on Wednesday . The stock traded as high as $536.57 and last traded at $536.53. 4,618,417 shares traded hands during trading, a decline of 88% from the average session volume of 37,012,973 shares. The stock had previously closed at $535.80.

Invesco QQQ Stock Down 0.9 %

The business has a fifty day moving average price of $505.84 and a two-hundred day moving average price of $485.36.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.51%.

Institutional Trading of Invesco QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the 2nd quarter worth $30,000. Legacy Bridge LLC raised its stake in shares of Invesco QQQ by 60.0% during 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 bought a new position in Invesco QQQ during the 3rd quarter worth approximately $62,000. Bray Capital Advisors lifted its holdings in Invesco QQQ by 78.0% in the second quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after acquiring an additional 64 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Invesco QQQ by 75.9% during 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 acquiring 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.