Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Reaches New 1-Year High – Time to Buy?

Posted by Scott Davis on Dec 11th, 2024

Shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $217.55 and last traded at $217.42, with a volume of 344668 shares traded. The stock had previously closed at $214.28.

Invesco NASDAQ 100 ETF Stock Performance

The stock has a 50-day simple moving average of $206.23 and a 200 day simple moving average of $198.64. The company has a market cap of $37.17 billion, a P/E ratio of 34.39 and a beta of 1.18.

Invesco NASDAQ 100 ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Invesco NASDAQ 100 ETF during the 2nd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV bought a new position in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $31,000. Triad Wealth Partners LLC bought a new position in shares of Invesco NASDAQ 100 ETF during the 2nd quarter worth approximately $30,000. Finally, Rothschild Investment LLC bought a new position in shares of Invesco NASDAQ 100 ETF during the 2nd quarter worth approximately $36,000.

About Invesco NASDAQ 100 ETF

(Get Free Report)

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.