Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3%

Invesco QQQ (NASDAQ:QQQ) traded up 0.3% on Wednesday . The stock traded as high as $488.68 and last traded at $488.66. 7,338,456 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 40,550,297 shares. The stock had previously closed at $486.98.

Invesco QQQ Price Performance

The company has a 50-day moving average price of $458.64 and a two-hundred day moving average price of $438.27.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be 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 is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.62%.

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after buying an additional 28,263,426 shares during the period. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Harvard Management Co. Inc. bought a new stake in Invesco QQQ during the first quarter worth about $304,591,000. Finally, CHURCHILL MANAGEMENT Corp lifted its stake in Invesco QQQ by 30.7% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after purchasing an additional 433,317 shares during the last quarter. 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.