Invesco QQQ (NASDAQ:QQQ) Trading 1.2% Higher

Shares of Invesco QQQ (NASDAQ:QQQ) rose 1.2% during mid-day trading on Monday . The company traded as high as $476.90 and last traded at $476.27. Approximately 33,466,398 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 40,490,172 shares. The stock had previously closed at $470.66.

Invesco QQQ Price Performance

The firm has a fifty day moving average of $473.84 and a 200 day moving average of $455.72.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.66%.

Institutional Trading of Invesco QQQ

Several hedge funds have recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in shares of Invesco QQQ during the 1st quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% in the 1st 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 acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC lifted its stake in Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Invesco QQQ in the 1st quarter valued at about $304,591,000. Hedge funds and other 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.