Invesco QQQ (NASDAQ:QQQ) Shares Up 0.5% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ) shares were up 0.5% during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $493.51 and last traded at $493.21. Approximately 9,253,483 shares traded hands during trading, a decline of 75% from the average daily volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Invesco QQQ Stock Up 0.5 %

The business has a 50-day simple moving average of $511.00 and a 200-day simple moving average of $504.66. The company has a market cap of $310.87 billion, a PE ratio of 30.74 and a beta of 1.11.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently modified their holdings of the company. PayPay Securities Corp lifted its position in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter worth approximately $36,000. Roxbury Financial LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $37,000. Finally, Hoese & Co LLP boosted its position in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors 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.