Invesco QQQ (NASDAQ:QQQ) Shares Up 0.6% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 0.6% on Friday . The company traded as high as $487.72 and last traded at $484.53. 12,001,999 shares changed hands during trading, a decline of 70% from the average session volume of 39,585,191 shares. The stock had previously closed at $481.59.

Invesco QQQ Price Performance

The stock’s 50-day moving average price is $469.07 and its 200-day moving average price is $461.18.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ in the 2nd quarter worth approximately $30,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the 1st quarter worth approximately $29,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Finally, Chelsea Counsel Co. acquired a new position in Invesco QQQ during the 1st quarter worth $40,000. 44.58% of the stock is currently owned by institutional investors.

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.