Invesco QQQ (NASDAQ:QQQ) Trading 0.2% Higher - Should You Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) was up 0.2% during trading on Monday . The stock traded as high as $443.14 and last traded at $423.65. Approximately 75,599,426 shares traded hands during mid-day trading, an increase of 112% from the average daily volume of 35,657,367 shares. The stock had previously closed at $422.67.

Invesco QQQ Stock Performance

The company's 50-day moving average price is $491.73 and its 200 day moving average price is $502.66. The stock has a market capitalization of $282.94 billion, a PE ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. NWI Management LP grew its position in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares during the period. GAMMA Investing LLC increased its stake in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP purchased a new position in Invesco QQQ during the 4th quarter valued at about $679,936,000. 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.