Invesco QQQ (NASDAQ:QQQ) Shares Up 0.5% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 0.5% on Tuesday following a dividend announcement from the company. The stock traded as high as $493.51 and last traded at $493.21. Approximately 9,253,483 shares were traded during trading, a decline of 75% from the average daily volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ Stock Performance

The stock has a market cap of $311.00 billion, a P/E ratio of 30.74 and a beta of 1.11. The firm has a 50-day moving average price of $510.77 and a 200-day moving average price of $504.97.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of the stock. PayPay Securities Corp raised its stake in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $37,000. Finally, Hoese & Co LLP boosted its stake in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares during the period. 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.