Invesco QQQ (NASDAQ:QQQ) Trading Up 1.4%

Shares of Invesco QQQ (NASDAQ:QQQ) rose 1.4% during mid-day trading on Monday . The stock traded as high as $482.86 and last traded at $482.03. Approximately 13,024,379 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 40,079,508 shares. The stock had previously closed at $475.24.

Invesco QQQ Stock Performance

The company has a 50 day simple moving average of $474.34 and a 200 day simple moving average of $446.92.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.66%.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in QQQ. International Assets Investment Management LLC raised its stake in shares of Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after buying an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Invesco QQQ in the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings 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 valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Granite Bay Wealth Management LLC boosted its position in shares of Invesco QQQ by 6,215.5% during 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. Finally, Harvard Management Co. Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $304,591,000. 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.