Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher Following Dividend Announcement

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 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. 9,253,483 shares were traded during mid-day trading, a decline of 75% from the average session 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 $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ Price Performance

The firm has a fifty day simple moving average of $510.12 and a 200-day simple moving average of $504.83. The firm has a market cap of $305.28 billion, a P/E ratio of 30.74 and a beta of 1.11.

Hedge Funds Weigh In On Invesco QQQ

A number of large investors have recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares in the last quarter. NWI Management LP boosted its position in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after buying an additional 3,648,000 shares during the last quarter. Senator Investment Group LP bought a new stake in Invesco QQQ during the fourth quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC raised its position in Invesco QQQ by 1,337.4% in the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after buying an additional 895,277 shares during the last quarter. 44.58% of the stock is currently owned by 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.