Invesco QQQ (NASDAQ:QQQ) Trading Up 2% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares shot up 2% during mid-day trading on Wednesday . The stock traded as high as $516.73 and last traded at $514.96. Approximately 13,188,776 shares were traded during trading, a decline of 59% from the average session volume of 31,919,551 shares. The stock had previously closed at $505.08.

Invesco QQQ Stock Up 1.7 %

The stock has a fifty day moving average of $515.79 and a 200 day moving average of $491.80.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds have recently bought and sold shares of the stock. Northeast Investment Management lifted its position in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after buying an additional 20 shares in the last quarter. Planning Capital Management Corp raised its holdings in shares of Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after acquiring an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC boosted its position in shares of Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after acquiring an additional 20 shares during the last quarter. Hoese & Co LLP grew its holdings in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. Finally, Skyline Advisors Inc. increased its position in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the last quarter. 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.