Invesco QQQ (NASDAQ:QQQ) Trading 1.5% Higher - Time to Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares traded up 1.5% on Friday . The stock traded as high as $488.67 and last traded at $488.67. 12,294,934 shares changed hands during trading, a decline of 66% from the average session volume of 36,336,373 shares. The stock had previously closed at $481.68.

Invesco QQQ Stock Performance

The stock has a market capitalization of $306.33 billion, a PE ratio of 28.58 and a beta of 1.11. The stock's 50 day moving average is $469.56 and its two-hundred day moving average is $499.58.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. PayPay Securities Corp grew its stake in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ during the fourth quarter worth approximately $37,000. Finally, Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying an additional 20 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.