Invesco QQQ (NASDAQ:QQQ) Trading 1% Higher Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s share price rose 1% on Tuesday following a dividend announcement from the company. The stock traded as high as $528.23 and last traded at $528.00. Approximately 7,166,997 shares changed hands during trading, a decline of 81% from the average daily volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.8347 dividend. The ex-dividend date of this dividend is Monday, December 23rd.

Invesco QQQ Stock Up 1.0 %

The stock has a fifty day simple moving average of $507.75 and a two-hundred day simple moving average of $487.04.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after acquiring an additional 11,351 shares during the period. 1ST Source Bank grew its position in Invesco QQQ by 0.8% in the 3rd quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund’s stock valued at $2,312,000 after purchasing an additional 38 shares during the period. Garden State Investment Advisory Services LLC increased its stake in Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Invesco QQQ during the third quarter worth $550,000. Finally, Little Harbor Advisors LLC lifted its stake in shares of Invesco QQQ by 7.5% in the third quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund’s stock valued at $9,169,000 after buying an additional 1,316 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.