Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s share price rose 1% during trading on Tuesday after the company announced a dividend. The company traded as high as $528.23 and last traded at $528.00. Approximately 7,166,997 shares changed hands during trading, a decline of 81% from the average daily volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.8347 per share. The ex-dividend date is Monday, December 23rd.

Invesco QQQ Trading Up 1.4 %

The firm has a fifty day moving average of $507.75 and a two-hundred day moving average of $487.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QQQ. International Assets Investment Management LLC grew its position in Invesco QQQ by 46,491.6% during the third 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 buying an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC grew 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 valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC increased its stake in shares of Invesco QQQ by 6,215.5% in 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 purchasing an additional 894,532 shares in the last quarter. Toronto Dominion Bank raised its holdings in Invesco QQQ by 13.0% in 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 purchasing an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. purchased a new position in Invesco QQQ during the second quarter valued at $215,600,000. Hedge funds and other institutional investors 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.