Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% – Should You Buy?

Invesco QQQ (NASDAQ:QQQ) shares shot up 0.2% on Monday . The company traded as high as $511.45 and last traded at $507.04. 10,504,499 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 37,902,047 shares. The stock had previously closed at $505.79.

Invesco QQQ Stock Down 0.8 %

The stock’s fifty day moving average price is $495.14 and its two-hundred day moving average price is $478.31.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently bought and sold shares of QQQ. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the first quarter valued at about $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the 2nd quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC grew its position in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Finally, Legacy Bridge LLC increased its stake in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

About Invesco QQQ

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.