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

Invesco QQQ (NASDAQ:QQQ) shares rose 0.2% during trading on Monday . The stock traded as high as $511.45 and last traded at $507.04. Approximately 10,504,499 shares traded hands during trading, a decline of 72% from the average daily volume of 37,902,047 shares. The stock had previously closed at $505.79.

Invesco QQQ Price Performance

The firm’s 50-day moving average price is $493.08 and its two-hundred day moving average price is $477.19.

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 0.53%. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in QQQ. PBCay One RSC Ltd increased its stake in Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after purchasing an additional 22,000 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Invesco QQQ by 140.6% in the 1st quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after acquiring an additional 142 shares during the last quarter. Vanguard Group Inc. lifted its position in Invesco QQQ by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after acquiring an additional 832 shares during the period. Ascent Group LLC grew its stake in Invesco QQQ by 33.6% during the 1st quarter. Ascent Group LLC now owns 1,585 shares of the exchange traded fund’s stock valued at $704,000 after purchasing an additional 399 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Invesco QQQ during the 1st quarter valued at about $210,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

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.