Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.2%

Shares of Invesco QQQ (NASDAQ:QQQ) shot up 1.2% on Tuesday . The company traded as high as $424.89 and last traded at $424.05. 14,350,170 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 45,600,734 shares. The stock had previously closed at $418.82.

Invesco QQQ Price Performance

The business’s fifty day moving average is $437.27 and its two-hundred day moving average is $409.02.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Red Tortoise LLC boosted its stake in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Robinson Capital Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $40,000. Finally, Friedenthal Financial acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $41,000. 44.58% of the stock is currently owned by institutional investors.

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.