Invesco QQQ (NASDAQ:QQQ) Hits New 12-Month High - Here's What Happened

Key Points

• Invesco QQQ shares reached a new 52-week high of $574.77, closing at $574.44 with a trading volume of nearly 24 million shares.
• The company announced a quarterly dividend of $0.5911, yielding 0.4%, paid to shareholders of record on June 23rd.
• Institutional investors now own 44.58% of Invesco QQQ, with significant increases in holdings from major firms like Kingstone Capital and Goldman Sachs.

Invesco QQQ (NASDAQ:QQQ - )'s share price hit a new 52-week high on Friday . The stock traded as high as $574.77 and last traded at $574.44, with a volume of 23675998 shares. The stock had previously closed at $569.24.

Invesco QQQ Trading Up 0.9%

The company's 50-day moving average is $547.85 and its 200-day moving average is $512.02.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its stake in Invesco QQQ by 704,593.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after acquiring an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $2,775,904,000. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the period. Institutional investors 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.

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