Invesco QQQ (NASDAQ:QQQ) Shares Up 0.3% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) was up 0.3% on Thursday . The stock traded as high as $521.76 and last traded at $517.81. Approximately 15,212,555 shares traded hands during trading, a decline of 59% from the average daily volume of 37,116,473 shares. The stock had previously closed at $516.47.

Invesco QQQ Trading Up 0.9 %

The company has a 50-day moving average price of $507.24 and a two-hundred day moving average price of $486.23.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently modified their holdings of QQQ. Principal Financial Group Inc. raised its stake in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares during the last quarter. 1ST Source Bank grew its holdings in shares of Invesco QQQ by 0.8% in the third quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund’s stock valued at $2,312,000 after purchasing an additional 38 shares during the period. Garden State Investment Advisory Services LLC increased 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 worth $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Invesco QQQ in the third quarter valued at $550,000. Finally, Little Harbor Advisors LLC grew its stake in shares of Invesco QQQ by 7.5% in the third quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund’s stock worth $9,169,000 after acquiring an additional 1,316 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.