Invesco QQQ (NASDAQ:QQQ) Trading Up 0.4%

Shares of Invesco QQQ (NASDAQ:QQQ) were up 0.4% on Thursday . The company traded as high as $427.88 and last traded at $427.52. Approximately 14,788,212 shares changed hands during trading, a decline of 67% from the average daily volume of 45,188,051 shares. The stock had previously closed at $425.84.

Invesco QQQ Stock Performance

The business’s 50-day moving average price is $438.24 and its two-hundred day moving average price is $407.40.

Invesco QQQ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, March 18th.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in the business. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ in the first quarter valued at $29,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ in the fourth quarter valued at $35,000. Red Tortoise LLC lifted its stake in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the last quarter. Robinson Capital Management LLC bought a new stake in Invesco QQQ in the fourth quarter valued at $40,000. Finally, Friedenthal Financial bought a new stake in Invesco QQQ in the fourth quarter valued at $41,000. 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.