Invesco QQQ (NASDAQ:QQQ) Trading Up 0.6% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares were up 0.6% during mid-day trading on Friday . The company traded as high as $487.72 and last traded at $484.53. Approximately 12,001,999 shares were traded during trading, a decline of 70% from the average daily volume of 39,585,191 shares. The stock had previously closed at $481.59.

Invesco QQQ Trading Up 1.2 %

The company has a fifty day moving average price of $469.56 and a 200 day moving average price of $461.68.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QQQ. KBC Group NV bought a new stake in Invesco QQQ in the 4th quarter worth approximately $488,000. 1832 Asset Management L.P. lifted its holdings in shares of Invesco QQQ by 187.9% in the 4th quarter. 1832 Asset Management L.P. now owns 8,012 shares of the exchange traded fund’s stock worth $3,281,000 after acquiring an additional 5,229 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $410,000. Westwood Holdings Group Inc. grew its holdings in shares of Invesco QQQ by 2.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 14,162 shares of the exchange traded fund’s stock valued at $5,800,000 after purchasing an additional 392 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its position in Invesco QQQ by 2.5% in the 4th quarter. Personal CFO Solutions LLC now owns 4,219 shares of the exchange traded fund’s stock worth $1,728,000 after purchasing an additional 104 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.