Invesco QQQ (NASDAQ:QQQ) Trading 1.9% Higher - Still a Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares were up 1.9% during trading on Tuesday . The company traded as high as $519.31 and last traded at $518.89. Approximately 14,390,118 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 37,277,937 shares. The stock had previously closed at $509.24.

Invesco QQQ Trading Down 0.1%

The company has a market cap of $326.29 billion, a PE ratio of 30.62 and a beta of 1.11. The business's 50 day moving average is $476.24 and its two-hundred day moving average is $500.91.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the period. Proficio Capital Partners LLC lifted its holdings in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the first quarter worth $2,775,904,000. Ameriprise Financial Inc. increased its position in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after purchasing an additional 4,105,389 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.