Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3% - Should You Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) was up 0.3% during mid-day trading on Wednesday . The stock traded as high as $481.06 and last traded at $472.94. Approximately 17,413,305 shares were traded during trading, a decline of 50% from the average daily volume of 35,034,368 shares. The stock had previously closed at $471.60.

Invesco QQQ Stock Down 1.8 %

The firm's 50-day moving average is $515.67 and its 200-day moving average is $503.63. The company has a market cap of $295.17 billion, a PE ratio of 33.43 and a beta of 1.11.

Invesco QQQ Dividend Announcement

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PayPay Securities Corp boosted its stake in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $37,000. Finally, Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

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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.