Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.5% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ) shot up 0.5% on Thursday . The company traded as high as $516.64 and last traded at $513.90. 11,845,525 shares traded hands during trading, a decline of 68% from the average session volume of 37,113,145 shares. The stock had previously closed at $511.23.

Invesco QQQ Price Performance

The company has a 50-day moving average price of $512.63 and a two-hundred day moving average price of $489.77.

Invesco QQQ Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders 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

Hedge funds have recently made changes to their positions in the business. Lantz Financial LLC purchased a new stake in shares of Invesco QQQ in the second quarter valued at about $214,000. Principal Financial Group Inc. raised its holdings in Invesco QQQ by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 8,048 shares of the exchange traded fund’s stock valued at $3,856,000 after acquiring an additional 363 shares during the period. Foster & Motley Inc. increased its holdings in shares of Invesco QQQ by 10.1% in the second quarter. Foster & Motley Inc. now owns 709 shares of the exchange traded fund’s stock worth $340,000 after purchasing an additional 65 shares during the period. Bordeaux Wealth Advisors LLC raised its position in shares of Invesco QQQ by 48.6% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 10,599 shares of the exchange traded fund’s stock valued at $5,078,000 after buying an additional 3,465 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its stake in Invesco QQQ by 4.3% in the second quarter. N.E.W. Advisory Services LLC now owns 5,822 shares of the exchange traded fund’s stock valued at $2,789,000 after acquiring an additional 238 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.