Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.4% – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) traded up 1.4% during mid-day trading on Wednesday . The company traded as high as $616.83 and last traded at $616.3390. 52,573,959 shares changed hands during trading, a decline of 13% from the average session volume of 60,098,340 shares. The stock had previously closed at $607.87.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Trading Up 1.4%

The company has a 50-day moving average price of $616.14 and a two-hundred day moving average price of $605.96.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.7941 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.18 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69.

Institutional Trading of Invesco QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. Corient Private Wealth LLC boosted its holdings in Invesco QQQ by 3,567.7% during the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after acquiring an additional 20,852,432 shares during the period. Bank of America Corp DE lifted its position in shares of Invesco QQQ by 381.0% during the fourth quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after purchasing an additional 26,505,055 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Invesco QQQ by 42.4% during the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock valued at $2,700,424,000 after purchasing an additional 1,457,109 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco QQQ by 11.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock valued at $2,179,321,000 after buying an additional 375,581 shares during the period. Finally, HRT Financial LP grew its holdings in Invesco QQQ by 118.3% during the 2nd quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund’s stock worth $1,735,226,000 after acquiring an additional 1,704,600 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

(Get Free Report)

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.

Further Reading

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