Invesco QQQ (NASDAQ:QQQ) Trading 1.7% Higher – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) shares rose 1.7% during mid-day trading on Monday . The company traded as high as $524.07 and last traded at $521.74. Approximately 51,701,068 shares changed hands during trading, an increase of 77% from the average daily volume of 29,197,722 shares. The stock had previously closed at $513.08.

Invesco QQQ Stock Up 1.7 %

The stock’s fifty day moving average price is $515.94 and its 200 day moving average price is $492.12.

Invesco QQQ Dividend Announcement

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

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently modified their holdings of QQQ. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Invesco QQQ by 9.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,491 shares of the exchange traded fund’s stock valued at $714,000 after purchasing an additional 125 shares in the last quarter. Benjamin Edwards Inc. boosted its position in Invesco QQQ by 10.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 740 shares of the exchange traded fund’s stock valued at $355,000 after acquiring an additional 69 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at $388,000. King Luther Capital Management Corp raised its position in shares of Invesco QQQ by 2.1% in the 2nd quarter. King Luther Capital Management Corp now owns 8,372 shares of the exchange traded fund’s stock worth $4,011,000 after acquiring an additional 172 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Invesco QQQ by 101.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 208,255 shares of the exchange traded fund’s stock worth $99,778,000 after acquiring an additional 104,797 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

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.