Invesco QQQ (NASDAQ:QQQ) Trading 1.3% Higher - Time to Buy?

Key Points

• Invesco QQQ's stock price increased by 1.3% to $611.54, with a trading volume of 45,234,211 shares, down from its average volume.
• The company announced a boosted quarterly dividend of $0.694 per share, up from the previous dividend of $0.59, with a yield of 0.5%.
• Institutional investors have increased their holdings in Invesco QQQ, with Brighton Jones LLC lifting its stake by 15.0% in the last quarter.

Invesco QQQ (NASDAQ:QQQ - )'s stock price traded up 1.3% during mid-day trading on Monday . The company traded as high as $612.80 and last traded at $611.54. 45,234,211 shares were traded during mid-day trading, a decline of 3% from the average session volume of 46,824,047 shares. The stock had previously closed at $603.93.

Invesco QQQ Stock Performance

The business has a 50-day moving average price of $587.30 and a 200 day moving average price of $541.36.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted 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 worth $2,687,000 after purchasing an additional 176 shares in the last quarter. Wealth Group Ltd. lifted its holdings in Invesco QQQ by 305.2% during the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after purchasing an additional 4,835 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Invesco QQQ by 19.2% during the 1st quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after purchasing an additional 643 shares in the last quarter. Finally, Lighthouse Wealth Management Inc. lifted its holdings in Invesco QQQ by 0.9% during the 1st quarter. Lighthouse Wealth Management Inc. now owns 27,095 shares of the exchange traded fund's stock worth $12,705,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

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.

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