Invesco QQQ (NASDAQ:QQQ) Trading 1% Higher – What’s Next?

Invesco QQQ (NASDAQ:QQQ) was up 1% on Monday . The company traded as high as $536.08 and last traded at $535.58. Approximately 7,358,033 shares changed hands during trading, a decline of 80% from the average daily volume of 37,074,129 shares. The stock had previously closed at $530.53.

Invesco QQQ Trading Down 0.4 %

The business has a fifty day moving average price of $505.84 and a two-hundred day moving average price of $485.36.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mechanics Financial Corp acquired a new position in Invesco QQQ during the 2nd quarter worth about $30,000. Legacy Bridge LLC increased its stake in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas purchased a new stake in Invesco QQQ during the third quarter worth about $62,000. Bray Capital Advisors lifted its position in shares of Invesco QQQ by 78.0% during the second quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 64 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after purchasing an additional 63 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Invesco QQQ

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.