Invesco QQQ (NASDAQ:QQQ) Stock Price Up 3.4% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) shot up 3.4% during trading on Tuesday . The stock traded as high as $578.64 and last traded at $577.1030. 94,010,776 shares were traded during mid-day trading, an increase of 43% from the average session volume of 65,859,961 shares. The stock had previously closed at $558.28.

Trending Headlines about Invesco QQQ

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

Invesco QQQ Price Performance

The firm’s 50-day simple moving average is $603.55 and its 200-day simple moving average is $609.38.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a dividend of $0.7328 per share. This represents a $2.93 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QQQ. Goodman Advisory Group LLC purchased a new position in Invesco QQQ during the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Invesco QQQ in the fourth quarter worth approximately $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 43 shares during the period. Shcp LLC purchased a new stake in Invesco QQQ during the third quarter worth $27,000. Finally, Rachor Investment Advisory Services LLC bought a new stake in Invesco QQQ during the 4th quarter valued at $29,000. 44.58% of the stock is currently 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.

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