Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 2% during mid-day trading on Monday . The stock traded as high as $490.24 and last traded at $490.36. Approximately 10,066,133 shares traded hands during trading, a decline of 71% from the average daily volume of 34,809,262 shares. The stock had previously closed at $480.84.

Invesco QQQ Stock Up 1.9 %

The business has a 50 day moving average price of $511.30 and a 200 day moving average price of $504.45. The stock has a market cap of $308.77 billion, a P/E ratio of 30.74 and a beta of 1.11.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently bought and sold shares of the business. PayPay Securities Corp boosted its stake in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the 4th quarter valued at about $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP grew its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 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.