Invesco QQQ (NASDAQ:QQQ) Shares Up 2.8%

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 2.8% on Thursday . The stock traded as high as $484.64 and last traded at $484.55. 12,811,164 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 40,111,035 shares. The stock had previously closed at $471.44.

Invesco QQQ Stock Up 2.6 %

The business has a 50 day moving average price of $468.49 and a 200 day moving average price of $457.89.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.63%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Atwater Malick LLC bought a new stake in Invesco QQQ during the 1st quarter valued at about $293,000. Westwood Holdings Group Inc. grew its position in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares in the last quarter. GenWealth Group Inc. raised its holdings in shares of Invesco QQQ by 5.8% in the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after acquiring an additional 2,325 shares in the last quarter. Socha Financial Group LLC lifted its stake in Invesco QQQ by 1.3% in the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after acquiring an additional 1,153 shares during the period. Finally, SVB Wealth LLC grew its holdings in Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after acquiring an additional 2,453 shares in the last quarter. Institutional investors 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.