Shares of Invesco QQQ (
NASDAQ:QQQ -
Get Free Report) traded up 1.1% on Wednesday . The stock traded as high as $611.75 and last traded at $611.44. 48,723,866 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 45,989,535 shares. The stock had previously closed at $604.51.
Invesco QQQ Trading Up 1.1%
The company has a 50 day moving average price of $581.39 and a 200 day moving average price of $533.92.
Invesco QQQ Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.
Institutional Investors Weigh In On Invesco QQQ
Several large investors have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC purchased a new position in Invesco QQQ in the second quarter worth $30,000. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ in the second quarter worth $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the first quarter worth $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ in the first quarter worth $51,000. Finally, Blume Capital Management Inc. raised its position in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.
About Invesco QQQ
(
Get Free Report)
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.
Further Reading
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