Invesco QQQ (NASDAQ:QQQ) Sets New 52-Week High – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $508.52 and last traded at $508.52, with a volume of 814379 shares trading hands. The stock had previously closed at $505.58.

Invesco QQQ Price Performance

The firm has a 50 day simple moving average of $484.62 and a 200-day simple moving average of $471.30.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.53%.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently added to or reduced their stakes in QQQ. Westwood Holdings Group Inc. boosted its holdings in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares in the last quarter. Socha Financial Group LLC boosted its holdings in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares in the last quarter. Bank Hapoalim BM boosted its holdings in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Invictus Private Wealth LLC boosted its holdings in shares of Invesco QQQ by 1.3% during the 3rd quarter. Invictus Private Wealth LLC now owns 334,023 shares of the exchange traded fund’s stock valued at $163,026,000 after acquiring an additional 4,139 shares in the last quarter. Institutional investors and hedge funds 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.