Invesco QQQ (NASDAQ:QQQ) Shares Up 0.2% - Time to Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares were up 0.2% during mid-day trading on Wednesday . The company traded as high as $473.27 and last traded at $473.41. Approximately 10,239,114 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 35,056,552 shares. The stock had previously closed at $472.70.

Invesco QQQ Trading Down 6.2 %

The company has a market capitalization of $268.12 billion, a P/E ratio of 30.05 and a beta of 1.18. The company has a 50 day moving average price of $501.45 and a 200 day moving average price of $504.37.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently modified their holdings of QQQ. SOA Wealth Advisors LLC. boosted its stake in Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund's stock valued at $8,477,000 after purchasing an additional 46 shares during the period. Redwood Investment Management LLC boosted its position in shares of Invesco QQQ by 51.2% in the third quarter. Redwood Investment Management LLC now owns 3,991 shares of the exchange traded fund's stock valued at $1,976,000 after acquiring an additional 1,352 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Invesco QQQ in the third quarter valued at about $471,000. Temasek Holdings Private Ltd bought a new position in Invesco QQQ during the third quarter worth about $50,235,000. Finally, Weiss Asset Management LP acquired a new stake in Invesco QQQ in the 3rd quarter worth about $1,659,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Company Profile

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.