What is the analysis rating for QQQ and price target level. What is the short term price targets for QQQ.
12/2/2024 04:43pm
1. **Current Analysis and Price Target**:
- QQQ is currently rated as a "Large-Cap Quality ETF" with a focus on the Technology sector, particularly Software & Programming.
- The average price target for QQQ is $562.94, which suggests a potential upside from the current trading price.
2. **Recent Institutional Activity**:
- Citizens Financial Group Inc. RI has increased its holdings in QQQ by 32.1% during the 3rd quarter, indicating confidence in the fund's performance.
- Oppenheimer & Co. Inc. reduced its holdings by 4.7% during the same period, which could suggest a more cautious stance.
- Paulson Wealth Management Inc. trimmed its holdings by 13.4%, and Oppenheimer Asset Management Inc. increased its holdings by 128.6%, both during the 3rd quarter. These movements reflect differing strategies among institutional investors.
3. **Short-Term Price Targets**:
- The short-term price target for QQQ is not explicitly provided. However, the stock has experienced fluctuations, with a trading volume of 19,036,961 shares and a closing price of $502.35.
- The stock has a 50-day moving average price of $491.83 and a 200-day moving average of $470.34, which can be used to gauge the short-term momentum.
In conclusion, QQQ is a large-cap quality ETF with a strong focus on technology, particularly software and programming. The average price target of $562.94 suggests a positive outlook for the fund. Institutional activity has been mixed, with some increases and decreases in holdings, indicating differing strategies among investors. The short-term price targets are not explicitly stated, but the stock's performance can be tracked through its moving averages.