Invesco QQQ (NASDAQ:QQQ) Trading 0.2% Higher – Here’s What Happened

by · The Cerbat Gem

Invesco QQQ (NASDAQ:QQQ – Get Free Report)’s share price shot up 0.2% during mid-day trading on Monday . The company traded as high as $511.45 and last traded at $507.04. 10,504,499 shares were traded during mid-day trading, a decline of 72% from the average session volume of 37,902,047 shares. The stock had previously closed at $505.79.

Invesco QQQ Stock Down 0.8 %

The company’s fifty day moving average is $495.14 and its 200 day moving average is $478.31.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. PBCay One RSC Ltd grew its stake in Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after buying an additional 22,000 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after purchasing an additional 142 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Invesco QQQ by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after purchasing an additional 832 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $210,000. Finally, Redwood Investment Management LLC bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $252,000. 44.58% of the stock is currently 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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