Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2%

Shares of Invesco QQQ (NASDAQ:QQQ) shot up 0.2% on Wednesday . The company traded as high as $441.04 and last traded at $441.01. Approximately 7,079,765 shares changed hands during trading, a decline of 84% from the average daily volume of 45,119,887 shares. The stock had previously closed at $440.32.

Invesco QQQ Stock Down 0.1 %

The company’s fifty day moving average is $436.66 and its two-hundred day moving average is $414.00.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were paid a dividend of $0.5735 per share. The ex-dividend date was Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.52%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently added to or reduced their stakes in the business. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ during the first quarter worth about $29,000. Legacy Bridge LLC increased its position in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Red Tortoise LLC increased its holdings in shares of Invesco QQQ by 370.0% in the 4th 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 during the period. Finally, Robinson Capital Management LLC purchased a new stake in Invesco QQQ in the 4th quarter valued at $40,000. 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.