Invesco QQQ (NASDAQ:QQQ) Trading 0% Higher

Invesco QQQ (NASDAQ:QQQ) shares shot up 0% during trading on Wednesday . The stock traded as high as $480.83 and last traded at $479.60. 5,425,720 shares were traded during mid-day trading, a decline of 87% from the average session volume of 41,096,191 shares. The stock had previously closed at $479.38.

Invesco QQQ Stock Up 0.0 %

The stock has a 50 day moving average of $451.31 and a two-hundred day moving average of $435.05.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, June 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Invesco QQQ in the 1st quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in shares of Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Invesco QQQ during the first quarter worth about $304,591,000. Finally, CHURCHILL MANAGEMENT Corp grew its stake in Invesco QQQ by 30.7% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after acquiring an additional 433,317 shares during the period. 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.