Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.3% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) rose 0.3% during trading on Wednesday . The stock traded as high as $481.06 and last traded at $472.94. Approximately 17,413,305 shares were traded during trading, a decline of 50% from the average daily volume of 35,034,368 shares. The stock had previously closed at $471.60.

Invesco QQQ Stock Performance

The firm has a market capitalization of $301.38 billion, a PE ratio of 33.43 and a beta of 1.11. The company’s 50-day moving average price is $517.19 and its 200-day moving average price is $504.07.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently added to or reduced their stakes in the stock. Stephens Consulting LLC raised its stake in Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after acquiring an additional 19 shares in the last quarter. Planning Capital Management Corp increased its position 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 worth $146,000 after purchasing an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC lifted its holdings in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after purchasing an additional 20 shares during the last quarter. Hoese & Co LLP boosted its position in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock worth $559,000 after buying an additional 20 shares during the last quarter. 44.58% of the stock is currently 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.