Invesco QQQ (NASDAQ:QQQ) Reaches New 1-Year High – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) hit a new 52-week high on Tuesday . The company traded as high as $516.26 and last traded at $515.29, with a volume of 25064131 shares. The stock had previously closed at $509.74.

Invesco QQQ Price Performance

The stock’s 50 day moving average is $496.13 and its two-hundred day moving average is $479.38.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC boosted its position in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after acquiring an additional 488,815 shares in the last quarter. Finally, Mirae Asset Securities USA Inc. acquired a new stake in Invesco QQQ in the second quarter valued at approximately $215,600,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.