Invesco QQQ (NASDAQ:QQQ) Trading Up 0.7%

Invesco QQQ (NASDAQ:QQQ) shares traded up 0.7% during mid-day trading on Monday . The stock traded as high as $453.81 and last traded at $453.71. 8,584,874 shares were traded during mid-day trading, a decline of 79% from the average session volume of 40,989,398 shares. The stock had previously closed at $450.41.

Invesco QQQ Price Performance

The business’s fifty day moving average is $473.92 and its 200-day moving average is $450.94.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.66%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth about $29,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ during the second quarter worth about $30,000. Legacy Bridge LLC boosted its position in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at about $35,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.