Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 1% on Tuesday after the company announced a dividend. The company traded as high as $528.23 and last traded at $528.00. 7,166,997 shares traded hands during trading, a decline of 81% from the average session volume of 37,193,156 shares. The stock had previously closed at $522.87.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.8347 dividend. The ex-dividend date is Monday, December 23rd.

Invesco QQQ Stock Performance

The business has a 50-day moving average of $508.53 and a two-hundred day moving average of $487.51.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently modified their holdings of the stock. Socha Financial Group LLC lifted its position in Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the period. Garden State Investment Advisory Services LLC lifted its holdings in shares of Invesco QQQ by 13.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after purchasing an additional 3,581 shares during the period. Archer Investment Corp lifted its holdings in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares during the period. Bank Hapoalim BM boosted its position in Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after buying an additional 6,347 shares during the last quarter. Finally, Marco Investment Management LLC increased its holdings in Invesco QQQ by 48.1% in the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock worth $4,696,000 after buying an additional 3,123 shares during the period. Institutional investors and hedge funds 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.