Invesco QQQ (NASDAQ:QQQ) Trading Up 1.3% – Here’s Why

by · The Markets Daily

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price traded up 1.3% during mid-day trading on Monday . The company traded as high as $609.27 and last traded at $607.76. 91,676,322 shares changed hands during trading, an increase of 43% from the average session volume of 64,307,742 shares. The stock had previously closed at $599.75.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Up 1.3%

The business has a 50 day moving average price of $614.62 and a 200 day moving average price of $607.79.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a $0.7941 dividend. This represents a $3.18 annualized dividend and a yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, December 22nd.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently made changes to their positions in QQQ. Corient Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,567.7% in the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after purchasing an additional 20,852,432 shares in the last quarter. EMC Capital Management boosted its position in shares of Invesco QQQ by 0.6% during the fourth quarter. EMC Capital Management now owns 59,149 shares of the exchange traded fund’s stock valued at $36,840,000 after buying an additional 351 shares during the last quarter. Union Savings Bank bought a new stake in Invesco QQQ in the 4th quarter worth about $2,318,000. Hsbc Holdings PLC raised its position in Invesco QQQ by 337.6% in the 4th quarter. Hsbc Holdings PLC now owns 273,787 shares of the exchange traded fund’s stock worth $168,945,000 after buying an additional 389,028 shares during the last quarter. Finally, Redwood Family Wealth LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $3,964,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

(Get Free Report)

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.

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