Buy Invesco QQQ Trust
What is QQQ?
Synonymous with technology, the Invesco QQQ Trust is an exchange-traded fund that trades nonstop, daily, like a stock. It comprises the 100 largest Nasdaq companies, ex-financials, including Apple (APPL), Microsoft (MSFT) and Amazon (AMZN).
This well-known ETF, often nicknamed "triple-Qs" or simply "the cubes,” was previously known as the PowerShares QQQ Trust ETF. It’s also frequently referred to as the “Nasdaq-100,” after the index that it tracks. Ten stocks account for more than half of the passively run vehicle. These include, in addition to those three largest holdings already mentioned, several other household names: Facebook (FB), Tesla (TSLA), Alphabet (GOOGL) and PayPal (PYPL). A smattering of consumer staples and healthcare stocks are also part of the mix.
The fund traces back to March 1999 at the height of the "dot com" bubble. Like the Nasdaq-100 itself, the fund is rebalanced quarterly and reconstituted annually.
For the ten-year period ending Sept. 30, the QQQ has produced an average annualized return of 20%. It has roughly $130 billion in assets (as of mid-November 2020).
What is the price of QQQ?
At roughly $290 per share (as of mid-November 2020), the QQQ is up nearly 40% since the start of the year.
Most online brokerages offer the ETF at zero commission. Invesco collects an annual 0.2% management fee, or $20 per $10,000.
Many analysts are bullish on large-cap tech stocks, generally, although short-term volatility is a concern. Longer term, per various quantitative forecasts, the QQQ's price is expected to reach $480 by 2025.
How to buy QQQ
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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice, and before taking any action you should consult your own advisors. Note that assets such as equities present unique risks for investors.
This content is correct as of November 2020
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