Invesco QQQ (NASDAQ:QQQ) Shares Up 0.4% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price shot up 0.4% during mid-day trading on Monday . The company traded as high as $538.84 and last traded at $538.15. 17,824,816 shares were traded during trading, a decline of 42% from the average session volume of 30,763,604 shares. The stock had previously closed at $535.90.

Invesco QQQ Stock Up 0.4 %

The firm has a 50 day simple moving average of $522.38 and a two-hundred day simple moving average of $498.34.

Invesco QQQ Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QQQ. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 159.6% in the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after buying an additional 2,059 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares during the period. Socha Financial Group LLC lifted its holdings in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after buying an additional 2,171 shares during the period. NRI Wealth Management LC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $28,729,000. Finally, Garden State Investment Advisory Services LLC lifted its holdings in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after buying an additional 3,581 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.