Invesco QQQ (NASDAQ:QQQ) Trading Up 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 0.2% during trading on Monday . The company traded as high as $488.61 and last traded at $488.54. Approximately 4,783,091 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 38,478,059 shares. The stock had previously closed at $487.43.

Invesco QQQ Price Performance

The business has a 50-day moving average of $481.80 and a 200-day moving average of $469.11.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in Invesco QQQ by 46,491.6% during 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. Steel Grove Capital Advisors LLC raised its stake in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC increased its holdings 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 valued at $409,513,000 after acquiring an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.