Invesco QQQ (NASDAQ:QQQ) Shares Up 0.2%

Shares of Invesco QQQ (NASDAQ:QQQ) shot up 0.2% during trading on Tuesday . The stock traded as high as $477.05 and last traded at $476.49. 7,586,685 shares traded hands during trading, a decline of 81% from the average session volume of 40,427,305 shares. The stock had previously closed at $475.34.

Invesco QQQ Stock Down 1.1 %

The stock’s 50 day moving average is $474.72 and its 200 day moving average is $454.35.

Invesco QQQ Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.65%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth about $30,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ during the first quarter worth about $29,000. Legacy Bridge LLC increased its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.