Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.6% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares traded up 0.6% on Tuesday . The company traded as high as $510.14 and last traded at $509.38. 7,165,762 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 37,833,793 shares. The stock had previously closed at $506.59.

Invesco QQQ Price Performance

The stock’s 50-day simple moving average is $493.75 and its two-hundred day simple moving average is $477.65.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Hedge funds and other 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.