Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.8%

Invesco QQQ (NASDAQ:QQQ)’s stock price was up 0.8% during trading on Monday . The company traded as high as $498.88 and last traded at $498.63. Approximately 6,258,397 shares traded hands during trading, a decline of 84% from the average daily volume of 39,996,453 shares. The stock had previously closed at $494.82.

Invesco QQQ Trading Up 0.0 %

The business’s fifty day simple moving average is $470.39 and its 200 day simple moving average is $444.01.

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 dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.61%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC boosted its stake in shares of Invesco QQQ by 40,957.3% in 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 purchasing an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC raised its position in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Invesco QQQ by 7.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock valued at $1,013,490,000 after acquiring an additional 162,691 shares during the period. Finally, CHURCHILL MANAGEMENT Corp raised its position in shares of Invesco QQQ by 30.7% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after acquiring an additional 433,317 shares during the period. 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.