Invesco QQQ (NASDAQ:QQQ) Trading Up 1.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 1.2% during mid-day trading on Wednesday . The company traded as high as $518.79 and last traded at $519.23. 9,653,825 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 30,719,033 shares. The stock had previously closed at $513.32.

Invesco QQQ Trading Up 0.4 %

The stock has a market cap of $327.81 billion, a P/E ratio of 33.43 and a beta of 1.09. The stock has a 50 day simple moving average of $522.57 and a 200 day simple moving average of $502.54.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Invesco QQQ by 159.6% in the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after buying an additional 2,059 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after acquiring an additional 11,351 shares during the last quarter. Socha Financial Group LLC grew its stake in Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. NRI Wealth Management LC purchased a new stake in Invesco QQQ during the fourth quarter worth about $28,729,000. Finally, Garden State Investment Advisory Services LLC increased its stake in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after purchasing an additional 3,581 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.