Invesco QQQ (NASDAQ:QQQ) Trading Up 0.5% After Dividend Announcement

Invesco QQQ (NASDAQ:QQQ) shares shot up 0.5% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $493.51 and last traded at $493.21. 9,253,483 shares were traded during trading, a decline of 75% from the average session volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Invesco QQQ Trading Up 0.5 %

The company has a fifty day simple moving average of $511.00 and a 200-day simple moving average of $504.66. The company has a market capitalization of $310.87 billion, a PE ratio of 30.74 and a beta of 1.11.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. Avant Financial Advisors LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $465,000. Mascagni Wealth Management Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth $1,131,000. Nestegg Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at $247,000. M1 Capital Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $7,802,000. Finally, Northeast Planning Associates INC. NH purchased a new position in shares of Invesco QQQ during the 4th quarter worth $589,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.