Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Hits New 12-Month High – Time to Buy?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $297.33 and last traded at $297.02, with a volume of 1680566 shares traded. The stock had previously closed at $294.21.

Invesco NASDAQ 100 ETF Stock Performance

The firm has a 50 day simple moving average of $262.11 and a two-hundred day simple moving average of $256.25. The firm has a market capitalization of $89.02 billion, a P/E ratio of 31.95 and a beta of 1.21.

Invesco NASDAQ 100 ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a $0.3277 dividend. The ex-dividend date was Monday, March 23rd. This represents a $1.31 dividend on an annualized basis and a yield of 0.4%. This is an increase from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32.

Institutional Trading of Invesco NASDAQ 100 ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ridgeline Wealth Planning LLC raised its stake in Invesco NASDAQ 100 ETF by 4.4% during the 1st quarter. Ridgeline Wealth Planning LLC now owns 886 shares of the company’s stock worth $211,000 after acquiring an additional 37 shares during the period. Avaii Wealth Management LLC lifted its holdings in Invesco NASDAQ 100 ETF by 2.8% in the 4th quarter. Avaii Wealth Management LLC now owns 1,464 shares of the company’s stock worth $370,000 after purchasing an additional 40 shares in the last quarter. Twin Peaks Wealth Advisors LLC lifted its holdings in Invesco NASDAQ 100 ETF by 0.7% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 5,789 shares of the company’s stock worth $1,429,000 after purchasing an additional 43 shares in the last quarter. Archer Investment Corp lifted its holdings in Invesco NASDAQ 100 ETF by 2.0% in the 4th quarter. Archer Investment Corp now owns 2,292 shares of the company’s stock worth $580,000 after purchasing an additional 44 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in Invesco NASDAQ 100 ETF by 3.4% in the 4th quarter. Jacobi Capital Management LLC now owns 1,329 shares of the company’s stock worth $336,000 after purchasing an additional 44 shares in the last quarter.

About Invesco NASDAQ 100 ETF

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.