Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher - Time to Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price rose 0.5% during mid-day trading on Thursday . The company traded as high as $484.55 and last traded at $483.26. Approximately 10,789,804 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 34,802,685 shares. The stock had previously closed at $480.89.

Invesco QQQ Trading Up 0.3 %

The firm has a 50-day moving average price of $511.30 and a 200-day moving average price of $504.14. The stock has a market capitalization of $303.05 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QQQ. Nestegg Advisors Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $247,000. M1 Capital Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $7,802,000. Northeast Planning Associates INC. NH bought a new position in Invesco QQQ during the fourth quarter worth about $589,000. DSG Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $7,087,000. Finally, Chancellor Financial Group WB LP bought a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $332,000. 44.58% of the stock is owned by 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.