Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.9% - Should You Buy?

Invesco QQQ (NASDAQ:QQQ) shares experienced a rise of 0.9% in mid-day trading on Friday, reaching a high of $490.48 before settling at $488.24. The day's trading volume was about 10,780,917 shares, which is significantly lower than the average daily volume of 38,517,203 shares. The previous close was at $483.85.

Invesco QQQ Stock Performance

The 50-day simple moving average for Invesco QQQ is located at $481.65, while the 200-day simple moving average stands at $468.15.

Dividend Announcement and Cut

Invesco QQQ has recently declared a quarterly dividend, which was disbursed on Thursday, October 31. Shareholders of record as of Monday, September 23, received a dividend of $0.677 per share. This translates into an annualized dividend of $2.71, giving it a dividend yield of 0.55%. The ex-dividend date was also Monday, September 23.

Institutional Investor Activity

There has been notable activity among institutional investors regarding their stakes in Invesco QQQ. For instance, New Covenant Trust Company N.A. acquired a new stake in QQQ during the first quarter, valued at $28,000. Similarly, Mechanics Financial Corp entered a position in the second quarter worth about $30,000. Chelsea Counsel Co. also purchased shares valued at around $40,000 in the first quarter. Furthermore, CGC Financial Services LLC increased its holdings in QQQ by an impressive 736.4% during the same quarter, owning now 92 shares valued at $44,000. CarsonAllaria Wealth Management Ltd. also raised its stake by 30.4% during the first quarter, now holding 103 shares worth $46,000. Overall, institutional investors control approximately 44.58% of Invesco QQQ's shares.

About Invesco QQQ

The Invesco QQQ Trust, Series 1 is a unit investment trust that provides securities known as Nasdaq-100 Index Tracking Stocks. Its investment goal is to deliver results that correspond to the performance of the Nasdaq-100 Index regarding price and yield. This trust allows investors to buy units of interest representing a proportional undivided stake in the portfolio of securities it maintains, which closely mirrors the component securities of the Nasdaq-100 Index.

Considerations for Investors

Investors contemplating if they should invest in Invesco QQQ might need to consider certain facts and statistics. Currently, many analysts have assigned a "hold" rating to the stock. Notably, some leading analysts identify five other stocks that they believe offer better investment opportunities at this time.

For those looking for more information on sectors like technology or considering investments in companies such as Meta, Roblox, or Unity, additional research should be undertaken to guide investment decisions.

Stock, Dividend, Investors