Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Sets New 52-Week High – Should You Buy?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $262.23 and last traded at $261.79, with a volume of 4344153 shares. The stock had previously closed at $260.57.

Invesco NASDAQ 100 ETF Stock Up 0.5%

The stock has a market capitalization of $67.61 billion, a PE ratio of 31.95 and a beta of 1.16. The firm has a 50 day moving average price of $245.64 and a 200 day moving average price of $227.72.

Invesco NASDAQ 100 ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Monday, September 22nd were issued a $0.3025 dividend. The ex-dividend date was Monday, September 22nd. This represents a $1.21 annualized dividend and a dividend yield of 0.5%.

Institutional Trading of Invesco NASDAQ 100 ETF

Several institutional investors and hedge funds have recently made changes to their positions in QQQM. Bison Wealth LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF in the fourth quarter valued at about $393,000. Mather Group LLC. raised its holdings in shares of Invesco NASDAQ 100 ETF by 80.6% in the first quarter. Mather Group LLC. now owns 168 shares of the company’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Invesco NASDAQ 100 ETF by 18.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,968 shares of the company’s stock valued at $1,924,000 after purchasing an additional 1,532 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Invesco NASDAQ 100 ETF by 8.8% in the first quarter. DAVENPORT & Co LLC now owns 2,486 shares of the company’s stock valued at $480,000 after purchasing an additional 201 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Invesco NASDAQ 100 ETF by 8.8% in the first quarter. Private Trust Co. NA now owns 8,068 shares of the company’s stock valued at $1,557,000 after purchasing an additional 652 shares during the last quarter.

Invesco NASDAQ 100 ETF Company Profile

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.