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

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 1.7% during trading on Wednesday . The stock traded as high as $713.15 and last traded at $713.15. 35,315,850 shares traded hands during trading, a decline of 39% from the average session volume of 57,457,930 shares. The stock had previously closed at $701.53.

Key Stories Impacting Invesco QQQ

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

• Positive Sentiment: Nvidia’s buybacks, dividend increase, and AI growth are putting Nasdaq-heavy ETFs like QQQ in focus, reinforcing demand for large-cap tech exposure. NVIDIA Ramps Up Shareholder Returns: ETFs in Focus
• Positive Sentiment: Semiconductor strength remains a tailwind for QQQ, as the sector’s long-running rally continues to support growth-oriented technology indexes. Is the VanEck Semiconductor ETF the Right ETF to Own as We Head Into June?
• Neutral Sentiment: Some market commentary suggests ETFs are increasingly dominating trading flows, but the article is more thematic than a direct driver for QQQ today. ETF Zoo: Why Rebalancing Killed the ARK Star
• Negative Sentiment: Earlier market coverage pointed to mixed ETF performance and a pullback in U.S. equities, which can weigh on QQQ when traders rotate out of growth stocks. Exchange-Traded Funds Mixed, US Equities Decline After Midday

Invesco QQQ Trading Up 0.4%

The firm has a 50-day moving average of $636.60 and a 200 day moving average of $622.40.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a dividend of $0.7328 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.4%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently modified their holdings of QQQ. Corient Private Wealth LLC lifted its holdings in Invesco QQQ by 3,567.7% in the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after acquiring an additional 20,852,432 shares during the period. Bank of America Corp DE lifted its holdings 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 acquiring an additional 26,505,055 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings 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 acquiring an additional 375,581 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Invesco QQQ by 0.3% in the third quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund’s stock valued at $1,843,749,000 after acquiring an additional 8,038 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Invesco QQQ by 21.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock valued at $1,858,288,000 after acquiring an additional 534,000 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.