Invesco QQQ (NASDAQ:QQQ) Trading 0.1% Higher

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 0.1% on Thursday . The stock traded as high as $484.55 and last traded at $482.28. 7,551,976 shares changed hands during trading, a decline of 81% from the average session volume of 39,639,922 shares. The stock had previously closed at $481.95.

Invesco QQQ Stock Performance

The company’s 50 day simple moving average is $468.60 and its 200 day simple moving average is $461.03.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

Hedge Funds Weigh In On Invesco QQQ

A number of large investors have recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the first quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ during the first quarter worth approximately $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter valued at approximately $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the first quarter worth $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.