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

Invesco QQQ (NASDAQ:QQQ)’s share price rose 1% on Tuesday after the company announced a dividend. The company traded as high as $528.23 and last traded at $528.00. Approximately 7,166,997 shares were traded during mid-day trading, a decline of 81% from the average daily 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. Investors of record on Monday, December 23rd will be given a dividend of $0.8347 per share. The ex-dividend date of this dividend is Monday, December 23rd.

Invesco QQQ Stock Performance

The firm has a 50-day simple moving average of $508.53 and a two-hundred day simple moving average of $487.51.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. Northeast Investment Management boosted its position in shares of Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares in the last quarter. Planning Capital Management Corp increased its holdings in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares in the last quarter. Skyline Advisors Inc. raised its holdings in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares during the last quarter. Madden Advisory Services Inc. raised its stake in shares of Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after acquiring an additional 21 shares during the last quarter. Finally, Meridian Management Co. lifted its holdings in Invesco QQQ by 0.6% during the 3rd quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock worth $1,640,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.