Invesco QQQ (NASDAQ:QQQ) Trading Up 1.8% – Time to Buy?

Shares of Invesco QQQ (NASDAQ:QQQ) were up 1.8% during mid-day trading on Monday . The company traded as high as $701.59 and last traded at $700.07. 44,491,755 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 53,197,914 shares. The stock had previously closed at $687.99.

Key Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Broadly strong corporate earnings helped support U.S. equities, providing a favorable backdrop for QQQ’s mega-cap technology holdings. Robust Earnings Help Boost Markets
• Positive Sentiment: Optimistic analysts argue that AI stocks may have already absorbed much of their recent correction, citing expanding capital spending, enterprise backlogs and strong margins. That view could support continued demand for QQQ’s AI-heavy portfolio. Chart Storm: 10 Reasons AI Stocks Have Bottomed
• Positive Sentiment: Invesco reportedly attracted approximately $2.8 billion in ETF assets on August 3, suggesting continued investor interest in the issuer’s products, although the report does not identify how much went specifically into QQQ. ETF League Tables: Invesco Picks Up $2.8B

Invesco QQQ Stock Performance

The firm’s fifty day moving average price is $715.15 and its 200 day moving average price is $659.37.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were paid a $0.8135 dividend. This represents a $3.25 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

Institutional Trading of Invesco QQQ

Several large investors have recently made changes to their positions in the stock. Fortis Capital Advisors LLC boosted its position in Invesco QQQ by 4.5% during the second quarter. Fortis Capital Advisors LLC now owns 64,627 shares of the exchange traded fund’s stock worth $47,592,000 after purchasing an additional 2,759 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Invesco QQQ in the second quarter valued at approximately $753,000. Stirlingshire Investments Inc. acquired a new stake in shares of Invesco QQQ in the second quarter worth $267,000. Solidarity Wealth LLC lifted its stake in shares of Invesco QQQ by 389.4% in the second quarter. Solidarity Wealth LLC now owns 28,253 shares of the exchange traded fund’s stock worth $20,806,000 after buying an additional 22,480 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its holdings in shares of Invesco QQQ by 7.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 17,101 shares of the exchange traded fund’s stock worth $12,593,000 after buying an additional 1,199 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

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.