Invesco QQQ (NASDAQ:QQQ) Sets New 1-Year High – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQ) reached a new 52-week high on Wednesday . The stock traded as high as $528.32 and last traded at $528.23, with a volume of 6183970 shares. The stock had previously closed at $520.60.

Invesco QQQ Stock Down 0.6 %

The stock has a 50 day moving average of $502.92 and a 200-day moving average of $483.29.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.51%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently made changes to their positions in the stock. 1ST Source Bank grew its holdings in Invesco QQQ by 0.8% during the 3rd quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund’s stock valued at $2,312,000 after buying an additional 38 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Invesco QQQ by 13.1% in the third 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 acquiring an additional 3,581 shares during the period. Copley Financial Group Inc. purchased a new position in Invesco QQQ during the third quarter valued at approximately $550,000. Little Harbor Advisors LLC increased its holdings in Invesco QQQ by 7.5% during the 3rd quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund’s stock worth $9,169,000 after acquiring an additional 1,316 shares during the period. Finally, Old North State Trust LLC increased its holdings in shares of Invesco QQQ by 3.9% in the third quarter. Old North State Trust LLC now owns 1,437 shares of the exchange traded fund’s stock worth $701,000 after purchasing an additional 54 shares during the period. 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.