Invesco QQQ (NASDAQ:QQQ) Trading 0.6% Higher

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.6% during mid-day trading on Friday . The company traded as high as $494.34 and last traded at $494.04. 7,667,078 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 40,386,750 shares. The stock had previously closed at $491.04.

Invesco QQQ Trading Up 1.0 %

The company’s fifty day simple moving average is $459.98 and its 200 day simple moving average is $438.63.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.61%.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% during the fourth 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 during the period. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC grew its holdings in shares of Invesco QQQ by 934.0% during 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 in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Invesco QQQ by 7.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after purchasing an additional 162,691 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its stake in Invesco QQQ by 30.7% in 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 in the last quarter. 44.58% of the stock is currently owned by hedge funds and other 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.