Invesco QQQ (NASDAQ:QQQ) Shares Up 1% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares shot up 1% on Tuesday after the company announced a dividend. The company traded as high as $528.23 and last traded at $528.00. 7,166,997 shares changed hands during trading, a decline of 81% from the average session volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $0.8347 dividend. The ex-dividend date of this dividend is Monday, December 23rd.

Invesco QQQ Stock Performance

The business has a 50 day moving average of $507.75 and a 200 day moving average of $487.04.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after acquiring an additional 11,351 shares in the last quarter. 1ST Source Bank raised its holdings in Invesco QQQ by 0.8% in the third quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund's stock valued at $2,312,000 after acquiring an additional 38 shares in the last quarter. Garden State Investment Advisory Services LLC increased its position in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Copley Financial Group Inc. acquired a new position in Invesco QQQ in the third quarter worth about $550,000. Finally, Little Harbor Advisors LLC increased its stake in Invesco QQQ by 7.5% during the third quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund's stock valued at $9,169,000 after purchasing an additional 1,316 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

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.