Invesco QQQ (NASDAQ:QQQ) Trading 1.5% Higher – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 1.5% on Wednesday . The company traded as high as $528.52 and last traded at $528.19. 9,604,970 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 37,197,199 shares. The stock had previously closed at $520.60.

Invesco QQQ Price Performance

The stock has a 50-day moving average of $501.06 and a two-hundred day moving average of $482.65.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.51%.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. Mechanics Financial Corp bought a new stake in Invesco QQQ in the second quarter valued at approximately $30,000. CGC Financial Services LLC lifted its position in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the last quarter. Legacy Bridge LLC lifted its position in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the last quarter. BNP Paribas bought a new stake in Invesco QQQ in the third quarter valued at approximately $62,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Invesco QQQ by 27.2% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock valued at $63,000 after acquiring an additional 28 shares in the last quarter. Institutional investors 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.