Invesco QQQ (NASDAQ:QQQ) Reaches New 1-Year High After Dividend Announcement

Key Points

• Invesco QQQ shares reached a new 52-week high of $600.72 after announcing a dividend increase to $0.694 per share, up from $0.59.
• The dividend will be paid on October 31st to shareholders of record as of September 22nd, representing an annualized return of $2.78 and a yield of 0.5%.
• Institutional investors hold 44.58% of Invesco QQQ's shares, with several hedge funds recently increasing their stakes in the stock.

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares reached a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $600.72 and last traded at $599.98, with a volume of 18334472 shares trading hands. The stock had previously closed at $599.35.

The newly announced dividend which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ Stock Performance

The firm's 50 day simple moving average is $573.11 and its 200 day simple moving average is $524.79.

Institutional Trading of Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the business. Wilkins Miller Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $1,018,000. Sendero Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $273,000. GSG Advisors LLC lifted its stake in shares of Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after purchasing an additional 585 shares during the period. Amundi lifted its stake in shares of Invesco QQQ by 6.3% in the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after purchasing an additional 6,600 shares during the period. Finally, Orser Capital Management LLC acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $566,000. 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.