Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.6% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.6% on Tuesday . The company traded as high as $510.14 and last traded at $509.38. Approximately 7,165,762 shares were traded during trading, a decline of 81% from the average daily volume of 37,833,793 shares. The stock had previously closed at $506.59.

Invesco QQQ Stock Performance

The stock’s fifty day moving average is $493.75 and its two-hundred day moving average is $477.65.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Northeast Investment Management raised its holdings in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp raised its holdings in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC raised its holdings in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. raised its holdings in shares of Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares during the last quarter. Finally, Madden Advisory Services Inc. raised its holdings in shares of Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is 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.