Invesco QQQ (NASDAQ:QQQ) Shares Up 2% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ) shares traded up 2% during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $490.24 and last traded at $490.36. 10,066,133 shares were traded during trading, a decline of 71% from the average session volume of 34,809,262 shares. The stock had previously closed at $480.84.

The newly announced dividend which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Invesco QQQ Trading Up 0.6 %

The firm has a fifty day moving average of $510.77 and a two-hundred day moving average of $504.97. The company has a market capitalization of $311.00 billion, a PE ratio of 30.74 and a beta of 1.11.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. Stephens Consulting LLC boosted its holdings in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after acquiring an additional 19 shares in the last quarter. Cardinal Point Capital Management ULC boosted its stake 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 purchasing an additional 20 shares in the last quarter. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the period. Farmers & Merchants Investments Inc. raised its stake in Invesco QQQ by 1.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock worth $559,000 after buying an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC raised its stake in Invesco QQQ by 1.7% in the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after buying an additional 20 shares in the last quarter. 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.