Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.6%

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.6% on Friday . The stock traded as high as $494.34 and last traded at $494.04. 7,667,078 shares traded hands during trading, a decline of 81% from the average session volume of 40,386,750 shares. The stock had previously closed at $491.04.

Invesco QQQ Price Performance

The firm has a fifty day moving average of $459.98 and a 200 day moving average of $438.63.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit X LLC raised its holdings in Invesco QQQ by 0.4% during the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after buying an additional 24 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares in the last quarter. Second Line Capital LLC boosted its position in Invesco QQQ by 2.6% during the 1st quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock worth $422,000 after acquiring an additional 24 shares during the period. IMA Wealth Inc. grew its holdings in shares of Invesco QQQ by 1.3% during the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after acquiring an additional 25 shares in the last quarter. Finally, S.A. Mason LLC increased its position in Invesco QQQ by 1.5% in the 4th quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds 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.