Invesco QQQ (NASDAQ:QQQ) Trading Up 1.5% - Time to Buy?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price traded up 1.5% during mid-day trading on Monday . The stock traded as high as $563.13 and last traded at $561.98. 17,266,930 shares were traded during trading, a decline of 61% from the average session volume of 44,759,934 shares. The stock had previously closed at $553.88.Invesco QQQ Trading Up 1.7%Microsoft’s AI Bet Faces a Major Test This Earnings SeasonThe company has a 50-day moving average of $544.01 and a 200-day moving average of $510.67. Invesco QQQ Cuts DividendThe firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd. Institutional Trading of Invesco QQQStrategists Say Hold: Stocks May Beat the 'Sell in May' TrendSeveral large investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its stake in Invesco QQQ by 3.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 31,073 shares of the exchange traded fund's stock valued at $17,142,000 after purchasing an additional 907 shares during the last quarter. Buckhead Capital Management LLC acquired a new position in Invesco QQQ during the 2nd quarter valued at about $301,000. Simon Quick Advisors LLC boosted its stake in Invesco QQQ by 15.5% during the 2nd quarter. Simon Quick Advisors LLC now owns 7,308 shares of the exchange traded fund's stock valued at $4,031,000 after purchasing an additional 979 shares during the last quarter. REDW Wealth LLC lifted its position in shares of Invesco QQQ by 6.9% during the 2nd quarter. REDW Wealth LLC now owns 2,338 shares of the exchange traded fund's stock worth $1,290,000 after buying an additional 151 shares in the last quarter. Finally, Ledyard National Bank lifted its position in shares of Invesco QQQ by 20.3% during the 2nd quarter. Ledyard National Bank now owns 1,529 shares of the exchange traded fund's stock worth $843,000 after buying an additional 258 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds. Invesco QQQ Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Invesco QQQHow to Choose Top Rated StocksAMD Outperforming NVIDIA: What’s Behind It and Can It Continue?What Makes a Stock a Good Dividend Stock?Strategy Insiders Buy In While Analysts Predict Big UpsideShould You Invest in Penny Stocks?3 Surprising Earnings Winners Changing Their Market NarrativeS&P 500 and Nasdaq-100 Flashed Death Crosses—Should You Worry?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Invesco QQQ Right Now?Before you consider Invesco QQQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here