Invesco QQQ (NASDAQ:QQQ) Trading Up 0.8%

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 0.8% on Friday . The company traded as high as $487.20 and last traded at $485.43. 8,051,962 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 40,849,363 shares. The stock had previously closed at $481.61.

Invesco QQQ Stock Performance

The firm has a 50 day moving average price of $454.85 and a two-hundred day moving average price of $436.54.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. This represents a $3.05 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Investors Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit X LLC grew its holdings in Invesco QQQ by 0.4% during the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after acquiring an additional 24 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its stake in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. Second Line Capital LLC grew its stake in Invesco QQQ by 2.6% in the first quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock worth $422,000 after purchasing an additional 24 shares in the last quarter. IMA Wealth Inc. increased its holdings in Invesco QQQ by 1.3% in the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after buying an additional 25 shares during the last quarter. Finally, S.A. Mason LLC raised its stake in Invesco QQQ by 1.5% during the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after buying an additional 25 shares in the last quarter. 44.58% of the stock is currently 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.