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

Key Points

• Invesco QQQ shares reached a new 52-week high, trading at $617.70 with a volume of nearly 9.3 million shares on the day.
• The company announced an increase in its quarterly dividend to $0.694 per share, up from the previous $0.59, with the dividend scheduled for payment on October 31st.
• Recent hedge fund activity showed significant interest in Invesco QQQ, with several funds acquiring new positions and increasing stakes in the stock.

Invesco QQQ (NASDAQ:QQQ - ) shares hit a new 52-week high on Friday . The stock traded as high as $617.53 and last traded at $617.70, with a volume of 9285746 shares trading hands. The stock had previously closed at $610.58.

Invesco QQQ Price Performance

The company's 50-day moving average price is $589.82 and its two-hundred day moving average price is $544.88.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 22nd.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC bought a new position in Invesco QQQ during the second quarter worth about $30,000. Navigoe LLC raised its stake in shares of Invesco QQQ by 300.0% during the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund's stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ in the 2nd quarter worth approximately $41,000. PayPay Securities Corp lifted its position in shares of Invesco QQQ by 78.9% in the 3rd quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund's stock worth $41,000 after purchasing an additional 30 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 3rd quarter worth approximately $42,000. 44.58% of the stock is owned by institutional investors.

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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