Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1% After Dividend Announcement

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 1% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $528.23 and last traded at $528.00. 7,166,997 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.8347 per share. The ex-dividend date of this dividend is Monday, December 23rd.

Invesco QQQ Stock Up 1.0 %

The stock has a fifty day moving average price of $507.75 and a two-hundred day moving average price of $487.04.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of QQQ. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. grew its position in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after purchasing an additional 338,494 shares in the last quarter. Toronto Dominion Bank increased its stake in Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after buying an additional 488,815 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after buying an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.