Invesco QQQ (NASDAQ:QQQ) Shares Up 3.1% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares shot up 3.1% during trading on Monday . The company traded as high as $744.76 and last traded at $744.00. 45,659,578 shares were traded during mid-day trading, a decline of 19% from the average session volume of 56,131,523 shares. The stock had previously closed at $721.34.

Invesco QQQ Price Performance

The business’s 50-day moving average price is $680.91 and its 200 day moving average price is $635.39.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brandywine Financial Group bought a new stake in shares of Invesco QQQ during the 1st quarter worth about $11,872,000. FAS Wealth Partners Inc. boosted its holdings in shares of Invesco QQQ by 53.5% during the 1st quarter. FAS Wealth Partners Inc. now owns 5,084 shares of the exchange traded fund’s stock worth $2,934,000 after buying an additional 1,773 shares during the period. Evansbrook LLC boosted its holdings in shares of Invesco QQQ by 33.4% during the 1st quarter. Evansbrook LLC now owns 1,070 shares of the exchange traded fund’s stock worth $618,000 after buying an additional 268 shares during the period. First Nebraska Trust Co bought a new stake in shares of Invesco QQQ during the 1st quarter worth about $12,260,000. Finally, Financial Solutions Advisory Group Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter worth about $51,441,000. Institutional investors own 44.58% of the company’s stock.

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.