Invesco QQQ (NASDAQ:QQQ) Trading Up 0.7% - Time to Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price was up 0.7% on Tuesday . The stock traded as high as $470.34 and last traded at $472.12. Approximately 13,451,417 shares changed hands during trading, a decline of 62% from the average daily volume of 35,058,642 shares. The stock had previously closed at $468.92.

Invesco QQQ Trading Down 6.2 %

The stock has a fifty day simple moving average of $503.59 and a 200-day simple moving average of $504.72. The stock has a market cap of $268.12 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently bought and sold shares of QQQ. GAMMA Investing LLC raised its position in shares of Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock valued at $1,712,000 after buying an additional 2,059 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock valued at $9,468,000 after acquiring an additional 11,351 shares in the last quarter. NRI Wealth Management LC acquired a new position in Invesco QQQ in the 4th quarter valued at approximately $28,729,000. Garden State Investment Advisory Services LLC lifted its position in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after acquiring an additional 3,581 shares during the period. Finally, Silverleafe Capital Partners LLC grew its holdings in shares of Invesco QQQ by 16.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock worth $23,165,000 after purchasing an additional 6,518 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.