Invesco QQQ (NASDAQ:QQQ) Shares Up 0.3% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.3% during trading on Thursday . The company traded as high as $521.76 and last traded at $517.81. Approximately 15,212,555 shares traded hands during trading, a decline of 59% from the average daily volume of 37,116,473 shares. The stock had previously closed at $516.47.

Invesco QQQ Stock Performance

The business has a 50-day moving average of $506.30 and a 200 day moving average of $485.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.52%.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors have recently added to or reduced their stakes in QQQ. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the 2nd quarter worth $30,000. Legacy Bridge LLC increased its stake in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas purchased a new position in shares of Invesco QQQ in the 3rd quarter worth about $62,000. Bray Capital Advisors lifted its stake in shares of Invesco QQQ by 78.0% in the 2nd quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock valued at $70,000 after purchasing an additional 64 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 63 shares during the period. 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.