Invesco QQQ (NASDAQ:QQQ) Trading Up 0.9% – Time to Buy?

Invesco QQQ (NASDAQ:QQQ) shot up 0.9% on Monday . The company traded as high as $526.72 and last traded at $526.48. 23,762,611 shares traded hands during trading, a decline of 5% from the average session volume of 24,966,626 shares. The stock had previously closed at $521.81.

Invesco QQQ Price Performance

The company has a fifty day simple moving average of $499.59 and a two-hundred day simple moving average of $481.73.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of large investors have recently bought and sold shares of the business. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter worth $30,000. CGC Financial Services LLC raised its holdings in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Legacy Bridge LLC lifted its position 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 last quarter. BNP Paribas purchased a new stake in shares of Invesco QQQ during the third quarter valued at about $62,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Invesco QQQ by 27.2% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock valued at $63,000 after buying an additional 28 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.