Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2% – Should You Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) rose 2% during trading on Wednesday . The company traded as high as $516.73 and last traded at $514.96. Approximately 13,188,776 shares traded hands during trading, a decline of 59% from the average daily volume of 31,919,551 shares. The stock had previously closed at $505.08.

Invesco QQQ Trading Up 2.0 %

The business has a fifty day moving average price of $515.57 and a 200 day moving average price of $491.47.

Invesco QQQ Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Legacy Bridge LLC grew its position in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the period. BNP Paribas bought a new stake in Invesco QQQ in the third quarter valued at $62,000. Brooklyn Investment Group bought a new stake in Invesco QQQ in the fourth quarter valued at $69,000. Pacifica Partners Inc. bought a new stake in Invesco QQQ in the fourth quarter valued at $73,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in Invesco QQQ by 75.9% in 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. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.