Invesco QQQ (NASDAQ:QQQ) Trading Up 0.6% – Here’s Why

by · The Cerbat Gem

Invesco QQQ (NASDAQ:QQQ – Get Free Report) shares were up 0.6% during mid-day trading on Monday . The company traded as high as $499.63 and last traded at $499.52. Approximately 6,696,074 shares were traded during trading, a decline of 82% from the average daily volume of 38,111,906 shares. The stock had previously closed at $496.57.

Invesco QQQ Stock Performance

The firm’s 50 day simple moving average is $491.14 and its 200 day simple moving average is $475.83.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares during the period. Toronto Dominion Bank boosted its holdings in Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares in the last quarter. Steel Grove Capital Advisors LLC grew its position in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after buying an additional 33,790 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Invesco QQQ

(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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