Invesco QQQ (NASDAQ:QQQ) Trading Up 0.5% After Dividend Announcement

Invesco QQQ (NASDAQ:QQQ)’s share price rose 0.5% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $493.51 and last traded at $493.21. Approximately 9,253,483 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Invesco QQQ Price Performance

The company has a market capitalization of $305.28 billion, a P/E ratio of 30.74 and a beta of 1.11. The firm has a fifty day moving average price of $510.12 and a 200-day moving average price of $504.83.

Institutional Investors Weigh In On Invesco QQQ

Hedge funds have recently made changes to their positions in the business. PayPay Securities Corp increased its holdings in Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ in the 4th quarter valued at about $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $37,000. Finally, Hoese & Co LLP boosted its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the period. 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.