Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% - What's Next?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price shot up 0.2% during mid-day trading on Friday . The company traded as high as $469.49 and last traded at $468.51. 12,614,866 shares traded hands during trading, a decline of 72% from the average session volume of 44,525,922 shares. The stock had previously closed at $467.35.

Invesco QQQ Stock Performance

The business's 50 day moving average is $473.06 and its 200-day moving average is $499.98. The stock has a market cap of $301.32 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently modified their holdings of the business. Proficio Capital Partners LLC raised its position in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Ameriprise Financial Inc. raised its holdings in 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 valued at $2,300,993,000 after buying an additional 756,990 shares during the period. Strategic Financial Concepts LLC boosted its stake in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the period. Hedge funds and other 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.