Invesco QQQ (NASDAQ:QQQ) Trading Up 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) was up 0.2% during trading on Thursday . The stock traded as high as $485.89 and last traded at $485.57. Approximately 12,129,619 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 34,805,691 shares. The stock had previously closed at $484.38.

Invesco QQQ Trading Down 0.1 %

The business’s fifty day simple moving average is $510.12 and its two-hundred day simple moving average is $504.83. The stock has a market capitalization of $305.04 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its holdings in Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after purchasing an additional 46 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Invesco QQQ by 95.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,145 shares of the exchange traded fund’s stock worth $559,000 after buying an additional 558 shares in the last quarter. FMR LLC raised its position in Invesco QQQ by 1.7% in the 3rd quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock valued at $379,751,000 after buying an additional 13,338 shares during the last quarter. Cadence Bank acquired a new stake in shares of Invesco QQQ in the third quarter valued at approximately $2,168,000. Finally, Townsquare Capital LLC lifted its position in shares of Invesco QQQ by 9.2% in the third quarter. Townsquare Capital LLC now owns 53,201 shares of the exchange traded fund’s stock worth $25,967,000 after purchasing an additional 4,504 shares in the last quarter. 44.58% of the stock is currently 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.