Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.2% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) was up 1.2% on Tuesday . The company traded as high as $488.65 and last traded at $487.81. Approximately 9,588,561 shares changed hands during trading, a decline of 76% from the average daily volume of 39,438,695 shares. The stock had previously closed at $482.10.

Invesco QQQ Price Performance

The stock’s fifty day simple moving average is $469.92 and its two-hundred day simple moving average is $462.07.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

Institutional Trading of Invesco QQQ

Hedge funds have recently made changes to their positions in the stock. KBC Group NV bought a new position in shares of Invesco QQQ in the fourth quarter worth about $488,000. XML Financial LLC grew its stake in shares of Invesco QQQ by 11.4% in the fourth quarter. XML Financial LLC now owns 6,682 shares of the exchange traded fund’s stock worth $2,736,000 after acquiring an additional 685 shares during the last quarter. Visionary Wealth Advisors increased its position in Invesco QQQ by 6.3% during the fourth quarter. Visionary Wealth Advisors now owns 9,316 shares of the exchange traded fund’s stock worth $3,815,000 after acquiring an additional 556 shares during the period. MGO One Seven LLC increased its position in Invesco QQQ by 19.9% during the fourth quarter. MGO One Seven LLC now owns 29,021 shares of the exchange traded fund’s stock worth $11,885,000 after acquiring an additional 4,822 shares during the period. Finally, Greystone Financial Group LLC raised its stake in Invesco QQQ by 60.4% during the 4th quarter. Greystone Financial Group LLC now owns 2,390 shares of the exchange traded fund’s stock valued at $979,000 after purchasing an additional 900 shares during the last quarter. 44.58% of the stock is 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.