Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.3% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $532.59 and last traded at $531.67. 12,687,896 shares changed hands during trading, a decline of 61% from the average session volume of 32,720,000 shares. The stock had previously closed at $524.80.

Invesco QQQ Stock Down 0.6 %

The firm’s fifty day moving average price is $517.20 and its 200 day moving average price is $493.09.

Invesco QQQ Announces Dividend

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

Institutional Trading of Invesco QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its stake in Invesco QQQ by 9.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 1,491 shares of the exchange traded fund’s stock worth $714,000 after purchasing an additional 125 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Invesco QQQ by 1.0% in the second quarter. 1832 Asset Management L.P. now owns 2,448 shares of the exchange traded fund’s stock valued at $1,173,000 after purchasing an additional 25 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Invesco QQQ by 332.0% in the second quarter. AQR Capital Management LLC now owns 12,041 shares of the exchange traded fund’s stock valued at $5,769,000 after purchasing an additional 9,254 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in Invesco QQQ during the second quarter worth $203,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.