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

Shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $309.66 and last traded at $309.9140, with a volume of 412790 shares trading hands. The stock had previously closed at $305.57.

Invesco NASDAQ 100 ETF Price Performance

The company has a market cap of $111.09 billion, a price-to-earnings ratio of 31.95 and a beta of 1.23. The business’s fifty day moving average price is $294.90 and its 200 day moving average price is $284.91.

Institutional Investors Weigh In On Invesco NASDAQ 100 ETF

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its position in shares of Invesco NASDAQ 100 ETF by 4.2% during the fourth quarter. Invesco Ltd. now owns 11,653,647 shares of the company’s stock worth $2,947,440,000 after acquiring an additional 468,626 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Invesco NASDAQ 100 ETF by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 7,557,285 shares of the company’s stock valued at $2,289,586,000 after acquiring an additional 170,070 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco NASDAQ 100 ETF by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,868,368 shares of the company’s stock valued at $1,172,000,000 after acquiring an additional 173,431 shares during the last quarter. Meitav Investment House Ltd. increased its position in Invesco NASDAQ 100 ETF by 25.3% during the 1st quarter. Meitav Investment House Ltd. now owns 2,576,146 shares of the company’s stock valued at $612,143,000 after purchasing an additional 520,102 shares during the period. Finally, Cetera Investment Advisers increased its position in Invesco NASDAQ 100 ETF by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 2,217,040 shares of the company’s stock valued at $526,813,000 after purchasing an additional 120,112 shares during the period.

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.