Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.2%

Invesco QQQ (NASDAQ:QQQ)’s stock price shot up 1.2% during mid-day trading on Friday . The company traded as high as $482.74 and last traded at $480.78. 11,098,596 shares traded hands during trading, a decline of 73% from the average session volume of 40,555,234 shares. The stock had previously closed at $474.85.

Invesco QQQ Trading Up 1.1 %

The stock’s 50-day moving average is $475.08 and its 200-day moving average is $453.62.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a $0.7615 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Trading of Invesco QQQ

A number of institutional investors have recently added to or reduced their stakes in QQQ. Aldebaran Financial Inc. boosted its holdings in Invesco QQQ by 20.3% in the 2nd quarter. Aldebaran Financial Inc. now owns 4,211 shares of the exchange traded fund’s stock worth $2,018,000 after acquiring an additional 710 shares during the period. PVG Asset Management Corp acquired a new position in shares of Invesco QQQ during the second quarter worth $677,000. Cetera Investment Advisers boosted its stake in shares of Invesco QQQ by 2.6% in the second quarter. Cetera Investment Advisers now owns 1,644,645 shares of the exchange traded fund’s stock valued at $787,966,000 after purchasing an additional 41,318 shares during the period. 3Chopt Investment Partners LLC acquired a new stake in Invesco QQQ during the 2nd quarter valued at $226,000. Finally, Granite Bay Wealth Management LLC increased its stake in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.