Invesco QQQ (NASDAQ:QQQ) Trading Up 0.2%

Invesco QQQ (NASDAQ:QQQ) was up 0.2% on Thursday . The company traded as high as $493.70 and last traded at $486.58. Approximately 11,365,631 shares were traded during trading, a decline of 72% from the average daily volume of 39,900,629 shares. The stock had previously closed at $485.82.

Invesco QQQ Price Performance

The company has a fifty day simple moving average of $467.67 and a two-hundred day simple moving average of $459.40.

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 dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of QQQ. Atwater Malick LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at $293,000. Westwood Holdings Group Inc. raised its holdings in Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares in the last quarter. GenWealth Group Inc. boosted its holdings in shares of Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after buying an additional 2,325 shares in the last quarter. Socha Financial Group LLC grew its position in shares of Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after buying an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC raised its stake in shares of 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. 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.