Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.8% – What’s Next?

by · The Markets Daily

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price rose 1.8% during mid-day trading on Tuesday . The stock traded as high as $628.60 and last traded at $628.38. Approximately 49,116,249 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 63,628,043 shares. The stock had previously closed at $617.39.

Invesco QQQ News Roundup

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

Invesco QQQ Stock Up 1.8%

The firm has a fifty day simple moving average of $599.17 and a 200-day simple moving average of $609.69.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.7328 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.5%.

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in shares of Invesco QQQ by 3,567.7% in the fourth 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 during the last quarter. Bank of America Corp DE increased its position in shares of Invesco QQQ by 381.0% during the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock valued at $12,008,257,000 after acquiring an additional 26,505,055 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco QQQ by 11.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock valued at $2,179,321,000 after acquiring an additional 375,581 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund’s stock valued at $1,843,749,000 after acquiring an additional 8,038 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Invesco QQQ by 21.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock valued at $1,858,288,000 after acquiring an additional 534,000 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Invesco QQQ

(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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