Invesco QQQ (NASDAQ:QQQ) Shares Up 0.3% - Here's Why

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price traded up 0.3% during mid-day trading on Wednesday . The company traded as high as $521.06 and last traded at $521.87. 15,009,808 shares traded hands during trading, a decline of 59% from the average session volume of 36,871,513 shares. The stock had previously closed at $520.27.

Invesco QQQ Stock Performance

The stock has a market capitalization of $327.10 billion, a PE ratio of 30.62 and a beta of 1.11. The firm has a 50 day moving average of $472.85 and a 200-day moving average of $500.53.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Trading of Invesco QQQ

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ in the 1st quarter valued at $2,775,904,000. Ameriprise Financial Inc. increased its position in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the period. 44.58% of the stock is owned by institutional investors.

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.

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