Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2.8%

Invesco QQQ (NASDAQ:QQQ)’s share price was up 2.8% on Thursday . The company traded as high as $484.64 and last traded at $484.55. Approximately 12,811,164 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 40,111,035 shares. The stock had previously closed at $471.44.

Invesco QQQ Stock Performance

The company has a 50 day moving average of $468.49 and a two-hundred day moving average of $457.89.

Invesco QQQ Increases Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently made changes to their positions in QQQ. Newbridge Financial Services Group Inc. boosted its position in Invesco QQQ by 47.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 9,966 shares of the exchange traded fund’s stock valued at $4,775,000 after buying an additional 3,196 shares during the last quarter. Heritage Wealth Management Inc. purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at about $290,000. Lazari Capital Management Inc. boosted its position in Invesco QQQ by 299.6% during the second quarter. Lazari Capital Management Inc. now owns 5,671 shares of the exchange traded fund’s stock worth $2,717,000 after purchasing an additional 4,252 shares in the last quarter. Creekside Partners purchased a new stake in shares of Invesco QQQ in the second quarter valued at approximately $540,000. Finally, NCP Inc. lifted its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. NCP Inc. now owns 6,642 shares of the exchange traded fund’s stock valued at $3,182,000 after buying an additional 198 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.