Invesco QQQ (NASDAQ:QQQ) Trading 0.6% Higher – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares shot up 0.6% on Friday . The company traded as high as $533.17 and last traded at $529.44. 9,599,155 shares were traded during mid-day trading, a decline of 74% from the average session volume of 37,118,438 shares. The stock had previously closed at $526.50.

Invesco QQQ Stock Up 0.5 %

The business has a 50 day moving average of $502.92 and a two-hundred day moving average of $483.29.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently made changes to their positions in the company. Socha Financial Group LLC boosted its holdings in Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. Archer Investment Corp raised its position in shares of Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after buying an additional 4,025 shares in the last quarter. Bank Hapoalim BM boosted its stake in shares of 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 period. Garden State Investment Advisory Services LLC boosted its stake in shares of Invesco QQQ by 20.7% in the third quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock valued at $16,191,000 after buying an additional 5,673 shares during the period. Finally, Marco Investment Management LLC grew its position in Invesco QQQ by 48.1% during the third 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 in the last quarter. 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.