Invesco QQQ (NASDAQ:QQQ) Trading Up 1.7% – Still a Buy?

Invesco QQQ (NASDAQ:QQQ)’s share price was up 1.7% on Tuesday . The stock traded as high as $737.62 and last traded at $736.40. 40,789,655 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 55,490,348 shares. The stock had previously closed at $724.08.

Key Headlines Impacting Invesco QQQ

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

• Positive Sentiment: SpaceX’s fast-track entry into the Nasdaq-100 is expected to create large passive inflows, including buying from Invesco QQQ, which could support the ETF as index funds rebalance. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Positive Sentiment: Market coverage highlighted Apple and Alphabet as potential July buying ideas, reinforcing bullish sentiment for the mega-cap tech names that dominate QQQ. Zacks Investment Ideas feature highlights: Apple and Alphabet
• Positive Sentiment: Several articles pointed to a strong quarter-end finish, record highs, and favorable July seasonality, which generally benefits a Nasdaq-100 tracker like QQQ. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Neutral Sentiment: Some commentary says the market still has room to climb, while other pieces argue investors should hedge or diversify away from heavy mega-cap concentration, creating a mixed near-term backdrop for QQQ. It’s Time To Hedge
• Neutral Sentiment: Analysts and strategists remain divided on whether the Nasdaq-100’s rally can continue, with some warning about bubble-like conditions and others citing strong technical and breadth signals. Nasdaq-100 ETFs Keep Sizzling: Can the Rally Last?

Invesco QQQ Stock Up 1.7%

The stock’s fifty day simple moving average is $706.67 and its 200-day simple moving average is $643.61.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be given a $0.8135 dividend. The ex-dividend date is Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.4%.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in shares of Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after purchasing an additional 20,852,432 shares in the last quarter. Bank of America Corp DE raised its stake in Invesco QQQ by 381.0% in the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock valued at $12,008,257,000 after purchasing an additional 26,505,055 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ by 11.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock valued at $2,179,321,000 after purchasing an additional 375,581 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Invesco QQQ by 21.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock worth $1,858,288,000 after purchasing an additional 534,000 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. lifted its position in Invesco QQQ by 68.6% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund’s stock worth $1,075,091,000 after purchasing an additional 712,026 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.