Invesco QQQ (NASDAQ:QQQ) Trading Up 0.6%

Invesco QQQ (NASDAQ:QQQ)’s share price shot up 0.6% on Tuesday . The company traded as high as $477.60 and last traded at $476.22. 8,495,889 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 40,134,457 shares. The stock had previously closed at $473.24.

Invesco QQQ Trading Down 0.4 %

The stock has a fifty day simple moving average of $468.49 and a 200-day simple moving average of $457.89.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.65%.

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently made changes to their positions in QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter worth about $30,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter worth approximately $29,000. Legacy Bridge LLC boosted its position in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $35,000. 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.