Invesco QQQ (NASDAQ:QQQ) Shares Up 0.5% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ) shares were up 0.5% during trading on Tuesday after the company announced a dividend. The company traded as high as $493.51 and last traded at $493.21. Approximately 9,253,483 shares traded hands during trading, a decline of 75% from the average daily volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ Stock Performance

The company has a 50 day moving average price of $510.77 and a 200 day moving average price of $504.97. The company has a market capitalization of $311.00 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Institutional Trading of Invesco QQQ

A number of institutional investors and hedge funds have recently modified their holdings of QQQ. GAMMA Investing LLC lifted its stake in shares of Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after buying an additional 2,059 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after purchasing an additional 11,351 shares in the last quarter. NRI Wealth Management LC purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $28,729,000. Garden State Investment Advisory Services LLC grew its holdings in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its stake in shares of Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock valued at $23,165,000 after buying an additional 6,518 shares during the last quarter. 44.58% of the stock is 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.