Invesco QQQ (NASDAQ:QQQ) Shares Up 0.7%

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.7% during trading on Monday . The company traded as high as $453.81 and last traded at $453.71. Approximately 8,584,874 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 40,989,398 shares. The stock had previously closed at $450.41.

Invesco QQQ Stock Performance

The stock’s 50-day moving average is $473.92 and its 200 day moving average is $450.94.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.66%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Prospect Financial Services LLC increased its holdings in Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after buying an additional 21 shares during the last quarter. Sweeney & Michel LLC increased its holdings in shares of Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after acquiring an additional 22 shares during the last quarter. Family Firm Inc. raised its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after acquiring an additional 22 shares in the last quarter. Merriman Wealth Management LLC lifted its stake in Invesco QQQ by 0.5% during the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock worth $2,420,000 after purchasing an additional 23 shares during the last quarter. Finally, Summit X LLC lifted its stake in Invesco QQQ by 0.4% during the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds 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.