Invesco QQQ (NASDAQ:QQQ) Reaches New 1-Year High at $487.37

Invesco QQQ (NASDAQ:QQQ) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $487.37 and last traded at $487.07, with a volume of 2276985 shares trading hands. The stock had previously closed at $486.98.

Invesco QQQ Trading Up 0.8 %

The business has a 50-day moving average of $458.64 and a 200-day moving average of $438.27.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.62%.

Institutional Trading of Invesco QQQ

A number of institutional investors have recently bought and sold shares of QQQ. Moody National Bank Trust Division acquired a new stake in shares of Invesco QQQ in the second quarter worth about $203,000. Marcum Wealth LLC lifted its position in shares of Invesco QQQ by 1,398.2% during the 2nd quarter. Marcum Wealth LLC now owns 18,653 shares of the exchange traded fund’s stock worth $8,937,000 after purchasing an additional 17,408 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 4,046 shares of the exchange traded fund’s stock worth $1,938,000 after purchasing an additional 121 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Invesco QQQ by 23.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,445 shares of the exchange traded fund’s stock worth $692,000 after purchasing an additional 277 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Invesco QQQ by 165.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,060 shares of the exchange traded fund’s stock worth $508,000 after purchasing an additional 660 shares during the last quarter. Institutional investors and hedge funds 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.