Invesco QQQ Trust (NASDAQ:QQQ) Trading 0.5% Higher

Shares of Invesco QQQ Trust (NASDAQ:QQQ) shot up 0.5% during mid-day trading on Wednesday . The company traded as high as $429.73 and last traded at $427.36. 17,314,226 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 45,640,828 shares. The stock had previously closed at $425.07.

Invesco QQQ Trust Trading Up 0.3 %

The firm’s fifty day moving average price is $437.20 and its 200-day moving average price is $409.44.

Invesco QQQ Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be paid a $0.5735 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.54%.

Institutional Trading of Invesco QQQ Trust

Hedge funds have recently added to or reduced their stakes in the business. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ Trust in the 1st quarter worth $29,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ Trust in the fourth quarter worth about $35,000. Red Tortoise LLC lifted its holdings in Invesco QQQ Trust by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares during the last quarter. Friedenthal Financial bought a new position in shares of Invesco QQQ Trust during the 4th quarter valued at about $41,000. Finally, Robinson Capital Management LLC acquired a new position in shares of Invesco QQQ Trust in the 4th quarter worth approximately $40,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trust 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.