Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.7% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) traded up 0.7% during trading on Tuesday . The company traded as high as $470.34 and last traded at $472.12. 13,451,417 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 35,058,642 shares. The stock had previously closed at $468.92.

Invesco QQQ Stock Performance

The stock has a market capitalization of $302.05 billion, a PE ratio of 30.05 and a beta of 1.18. The company’s fifty day simple moving average is $505.23 and its two-hundred day simple moving average is $505.09.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of the stock. Marcum Wealth LLC boosted its stake in shares of Invesco QQQ by 0.5% during the first quarter. Marcum Wealth LLC now owns 19,661 shares of the exchange traded fund’s stock valued at $9,219,000 after acquiring an additional 95 shares during the last quarter. Hobart Private Capital LLC lifted its holdings in Invesco QQQ by 18.6% in the 1st quarter. Hobart Private Capital LLC now owns 1,315 shares of the exchange traded fund’s stock valued at $617,000 after purchasing an additional 206 shares in the last quarter. Trust Co of the South boosted its stake in shares of Invesco QQQ by 30.2% during the 1st quarter. Trust Co of the South now owns 909 shares of the exchange traded fund’s stock worth $426,000 after purchasing an additional 211 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Invesco QQQ by 3.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,252 shares of the exchange traded fund’s stock worth $587,000 after buying an additional 36 shares in the last quarter. Finally, Milestone Asset Management Group LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $5,938,000. 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.