Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ) Hits New 52-Week High – Still a Buy?

Invesco NASDAQ Next Gen 100 ETF (NASDAQ:QQQJ)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $42.36 and last traded at $42.16, with a volume of 41507 shares changing hands. The stock had previously closed at $42.06.

Invesco NASDAQ Next Gen 100 ETF Price Performance

The stock has a 50-day simple moving average of $38.95 and a 200-day simple moving average of $38.06. The stock has a market cap of $1.02 billion, a PE ratio of 22.27 and a beta of 1.10.

Invesco NASDAQ Next Gen 100 ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a dividend of $0.0551 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Investors Weigh In On Invesco NASDAQ Next Gen 100 ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of Invesco NASDAQ Next Gen 100 ETF by 34.5% in the third quarter. Jones Financial Companies Lllp now owns 257,979 shares of the company’s stock worth $9,163,000 after buying an additional 66,241 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in Invesco NASDAQ Next Gen 100 ETF in the fourth quarter valued at about $1,465,000. Guidance Capital Inc. purchased a new position in Invesco NASDAQ Next Gen 100 ETF in the fourth quarter valued at about $669,000. Systelligence LLC purchased a new position in Invesco NASDAQ Next Gen 100 ETF in the fourth quarter valued at about $17,963,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Invesco NASDAQ Next Gen 100 ETF by 3,437.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 428,631 shares of the company’s stock valued at $15,795,000 after buying an additional 416,514 shares in the last quarter.

About Invesco NASDAQ Next Gen 100 ETF

The Invesco NASDAQ Next Gen 100 ETF (QQQJ) is an exchange-traded fund that is based on the Nasdaq Next Generation 100 index, a modified market-cap-weighted, narrow index of 100 non-financial stocks that are next-eligible for inclusion in the NASDAQ-100 Index. QQQJ was launched on Oct 13, 2020 and is issued by Invesco.