Invesco QQQ (NASDAQ:QQQ) Shares Up 1% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ) shot up 1% on Tuesday following a dividend announcement from the company. The company traded as high as $528.23 and last traded at $528.00. 7,166,997 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a $0.8347 dividend. The ex-dividend date of this dividend is Monday, December 23rd.

Invesco QQQ Stock Performance

The firm has a 50-day moving average of $507.75 and a 200-day moving average of $487.04.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the period. Ameriprise Financial Inc. grew its position in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during 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.