Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3%

Invesco QQQ (NASDAQ:QQQ) was up 0.3% during trading on Wednesday . The stock traded as high as $488.68 and last traded at $488.66. Approximately 7,338,456 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 40,550,297 shares. The stock had previously closed at $486.98.

Invesco QQQ Stock Up 0.8 %

The company has a 50 day moving average of $458.64 and a 200 day moving average of $438.27.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.62%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit X LLC lifted its holdings in Invesco QQQ by 0.4% in the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after purchasing an additional 24 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares during the last quarter. Second Line Capital LLC lifted its holdings in shares of Invesco QQQ by 2.6% during the first quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock worth $422,000 after buying an additional 24 shares during the last quarter. IMA Wealth Inc. increased its position in shares of Invesco QQQ by 1.3% during the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after purchasing an additional 25 shares during the period. Finally, S.A. Mason LLC increased its position in shares of 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 purchasing an additional 25 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

About Invesco QQQ

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.