Invesco QQQ (NASDAQ:QQQ) Trading 0.9% Higher – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares traded up 0.9% on Friday . The company traded as high as $516.73 and last traded at $514.68. 8,902,472 shares changed hands during trading, a decline of 60% from the average session volume of 22,158,168 shares. The stock had previously closed at $510.23.

Invesco QQQ Stock Performance

The firm’s 50 day moving average is $512.17 and its 200-day moving average is $489.54.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QQQ. Lantz Financial LLC purchased a new position in Invesco QQQ in the second quarter worth approximately $214,000. Principal Financial Group Inc. increased its position in shares of Invesco QQQ by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 8,048 shares of the exchange traded fund’s stock worth $3,856,000 after purchasing an additional 363 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Invesco QQQ by 26.4% during the 2nd quarter. Natixis Advisors LLC now owns 29,128 shares of the exchange traded fund’s stock worth $13,956,000 after purchasing an additional 6,089 shares during the last quarter. First National Trust Co raised its holdings in Invesco QQQ by 1.1% in the 2nd quarter. First National Trust Co now owns 6,919 shares of the exchange traded fund’s stock valued at $3,315,000 after buying an additional 75 shares during the period. Finally, Pursue Wealth Partners LLC lifted its position in Invesco QQQ by 9.7% in the second quarter. Pursue Wealth Partners LLC now owns 3,864 shares of the exchange traded fund’s stock valued at $1,851,000 after buying an additional 343 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.