Invesco QQQ (NASDAQ:QQQ) Reaches New 52-Week High at $487.37

Invesco QQQ (NASDAQ:QQQ)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $487.37 and last traded at $487.07, with a volume of 2276985 shares traded. The stock had previously closed at $486.98.

Invesco QQQ Price Performance

The company’s 50-day moving average price is $456.11 and its 200 day moving average price is $437.32.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.62%.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after buying an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC grew its holdings in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $304,591,000. Finally, CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Invesco QQQ by 30.7% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after purchasing an additional 433,317 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.