Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.1% – Should You Buy?

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) shot up 1.1% during trading on Tuesday . The stock traded as high as $608.99 and last traded at $607.87. 54,397,492 shares changed hands during trading, a decline of 10% from the average session volume of 60,189,332 shares. The stock had previously closed at $601.41.

Key Stories Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Price Performance

The firm has a 50-day moving average of $616.47 and a two-hundred day moving average of $606.05.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $0.7941 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, December 22nd. This represents a $3.18 annualized dividend and a yield of 0.5%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after acquiring an additional 176 shares during the period. Jupiter Wealth Management LLC acquired a new position in Invesco QQQ in the 2nd quarter valued at about $290,000. Wealth Group Ltd. increased its stake in Invesco QQQ by 283.7% during the second quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock worth $13,587,000 after purchasing an additional 18,210 shares during the period. Finally, Ignite Planners LLC increased its stake in Invesco QQQ by 2.0% during the second quarter. Ignite Planners LLC now owns 8,149 shares of the exchange traded fund’s stock worth $4,574,000 after purchasing an additional 160 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

(Get Free Report)

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.

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