Invesco QQQ (NASDAQ:QQQ) Trading Up 1.1% - Still a Buy?

Key Points

• Invesco QQQ (NASDAQ:QQQ) saw a **1.1% increase** in trading, closing at **$617.10**, with approximately **47.3 million shares** exchanged on Friday.
• The company announced a **quarterly dividend increase**, paying **$0.694** to investors on record by September 22, representing an **annualized dividend of $2.78** and a yield of **0.4%**.
• Institutional investors have shown significant trading activity, with a **300% increase** in holdings by Navigoe LLC and new stakes purchased by several firms, indicating strong interest in the stock.

Invesco QQQ (NASDAQ:QQQ - ) was up 1.1% during trading on Friday . The stock traded as high as $618.42 and last traded at $617.10. Approximately 47,259,791 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 46,841,348 shares. The stock had previously closed at $610.58.

Invesco QQQ Stock Up 1.1%

The company has a 50 day moving average of $589.82 and a 200 day moving average of $544.88.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.4%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

Institutional Trading of Invesco QQQ

Large investors have recently added to or reduced their stakes in the stock. Morgan Dempsey Capital Management LLC purchased a new stake in Invesco QQQ in the 2nd quarter valued at $30,000. Navigoe LLC grew its holdings in Invesco QQQ by 300.0% in the 3rd quarter. Navigoe LLC now owns 60 shares of the exchange traded fund's stock valued at $36,000 after buying an additional 45 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the 2nd quarter valued at $41,000. PayPay Securities Corp grew its holdings in Invesco QQQ by 78.9% in the 3rd quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund's stock valued at $41,000 after buying an additional 30 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Invesco QQQ in the 3rd quarter valued at $42,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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