Invesco QQQ (NASDAQ:QQQ) Trading Up 0.8% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares were up 0.8% on Monday . The company traded as high as $514.89 and last traded at $513.89. Approximately 8,055,847 shares traded hands during trading, a decline of 79% from the average daily volume of 37,638,383 shares. The stock had previously closed at $509.74.

Invesco QQQ Trading Up 1.0 %

The company’s 50 day moving average is $496.13 and its 200-day moving average is $479.38.

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 $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the business. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the 2nd quarter valued at approximately $30,000. CGC Financial Services LLC raised its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the period. PFG Private Wealth Management LLC lifted its position in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the last quarter. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the period. Finally, BNP Paribas bought a new stake in shares of Invesco QQQ during the 3rd quarter valued at about $62,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.