Invesco QQQ (NASDAQ:QQQ) Trading Up 2.6% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price rose 2.6% on Monday . The company traded as high as $606.68 and last traded at $605.16. Approximately 58,671,503 shares changed hands during trading, an increase of 20% from the average daily volume of 48,781,441 shares. The stock had previously closed at $590.07.

Invesco QQQ Stock Up 2.6%

The company has a 50 day moving average of $607.42 and a 200-day moving average of $570.55.

Invesco QQQ Increases Dividend

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

Institutional Trading of Invesco QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goodman Advisory Group LLC bought a new stake in shares of Invesco QQQ during the 3rd quarter valued at about $25,000. Shcp LLC bought a new position in Invesco QQQ in the third quarter worth about $27,000. Morgan Dempsey Capital Management LLC purchased a new stake in Invesco QQQ in the second quarter worth about $30,000. Navigoe LLC boosted its position in Invesco QQQ by 300.0% during the 3rd quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Invesco QQQ during the 3rd quarter worth approximately $40,000. 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.