Invesco QQQ (NASDAQ:QQQ) Trading 1.4% Higher – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 1.4% during mid-day trading on Thursday . The company traded as high as $612.93 and last traded at $609.11. 77,277,363 shares traded hands during trading, an increase of 58% from the average session volume of 49,014,012 shares. The stock had previously closed at $600.41.

Invesco QQQ Trading Up 1.4%

The company has a 50-day moving average price of $613.62 and a two-hundred day moving average price of $582.45.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a $0.694 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of QQQ. Goodman Advisory Group LLC purchased a new stake in shares of Invesco QQQ during the third quarter worth about $25,000. Shcp LLC bought a new position in Invesco QQQ during the 3rd quarter valued at approximately $27,000. Morgan Dempsey Capital Management LLC purchased a new stake in Invesco QQQ in the 2nd quarter worth approximately $30,000. Navigoe LLC grew its position in shares of Invesco QQQ by 300.0% in the 3rd quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Invesco QQQ during the third quarter valued at approximately $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.