Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Reaches New 12-Month High – Still a Buy?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) shares hit a new 52-week high on Friday . The stock traded as high as $254.22 and last traded at $254.28, with a volume of 717321 shares changing hands. The stock had previously closed at $251.39.

Invesco NASDAQ 100 ETF Price Performance

The company has a market cap of $66.10 billion, a P/E ratio of 31.95 and a beta of 1.18. The company’s 50-day moving average is $243.14 and its two-hundred day moving average is $225.25.

Invesco NASDAQ 100 ETF Cuts Dividend

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

Institutional Investors Weigh In On Invesco NASDAQ 100 ETF

Several institutional investors and hedge funds have recently made changes to their positions in QQQM. Westwind Capital bought a new stake in shares of Invesco NASDAQ 100 ETF during the first quarter valued at approximately $27,000. NorthRock Partners LLC bought a new stake in Invesco NASDAQ 100 ETF in the 1st quarter worth approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in Invesco NASDAQ 100 ETF in the 3rd quarter worth approximately $28,000. Hughes Financial Services LLC bought a new stake in Invesco NASDAQ 100 ETF in the 1st quarter worth approximately $30,000. Finally, HHM Wealth Advisors LLC grew its position in Invesco NASDAQ 100 ETF by 273.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 153 shares of the company’s stock worth $30,000 after purchasing an additional 112 shares during the period.

About Invesco NASDAQ 100 ETF

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.