Invesco QQQ (NASDAQ:QQQ) Trading Up 1.2% – Should You Buy?
by Danessa Lincoln · The Markets DailyInvesco QQQ (NASDAQ:QQQ – Get Free Report) shares were up 1.2% on Wednesday . The company traded as high as $587.74 and last traded at $584.31. Approximately 78,191,732 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 66,106,250 shares. The stock had previously closed at $577.18.
Invesco QQQ Price Performance
The company’s 50-day moving average is $602.83 and its two-hundred day moving average is $609.21.
Invesco QQQ Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, March 23rd.
Institutional Investors Weigh In On Invesco QQQ
Institutional investors have recently bought and sold shares of the stock. Well Done LLC boosted its holdings in Invesco QQQ by 0.5% during the fourth quarter. Well Done LLC now owns 3,439 shares of the exchange traded fund’s stock worth $2,113,000 after purchasing an additional 16 shares during the last quarter. Orgel Wealth Management LLC increased its stake in Invesco QQQ by 4.7% in the 3rd quarter. Orgel Wealth Management LLC now owns 382 shares of the exchange traded fund’s stock valued at $229,000 after buying an additional 17 shares during the last quarter. Enclave Advisors LLC lifted its position in shares of Invesco QQQ by 0.9% during the 3rd quarter. Enclave Advisors LLC now owns 1,831 shares of the exchange traded fund’s stock worth $1,099,000 after buying an additional 17 shares in the last quarter. IFS Advisors LLC lifted its position in shares of Invesco QQQ by 4.1% during the 3rd quarter. IFS Advisors LLC now owns 431 shares of the exchange traded fund’s stock worth $259,000 after buying an additional 17 shares in the last quarter. Finally, Mezzasalma Advisors LLC boosted its stake in shares of Invesco QQQ by 0.5% in the 3rd quarter. Mezzasalma Advisors LLC now owns 3,312 shares of the exchange traded fund’s stock worth $1,988,000 after buying an additional 17 shares during the last quarter. 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.