Invesco QQQ (NASDAQ:QQQ) Trading Up 2% After Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s share price rose 2% on Monday after the company announced a dividend. The company traded as high as $490.24 and last traded at $490.36. Approximately 10,066,133 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 34,809,262 shares. The stock had previously closed at $480.84.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ Stock Performance

The stock’s 50-day moving average price is $510.77 and its two-hundred day moving average price is $504.97. The stock has a market capitalization of $311.00 billion, a PE ratio of 30.74 and a beta of 1.11.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PayPay Securities Corp increased its position in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP raised its holdings in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors 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.