Invesco QQQ (NASDAQ:QQQ) Shares Up 1% After Dividend Announcement
by Kim Johansen · The Markets DailyShares of Invesco QQQ (NASDAQ:QQQ – Get Free Report) rose 1% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $595.08 and last traded at $588.00. Approximately 88,963,468 shares changed hands during trading, an increase of 37% from the average daily volume of 64,905,391 shares. The stock had previously closed at $582.06.
The newly announced dividend which will be paid on Friday, March 27th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.7328 per share. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 23rd.
Invesco QQQ Price Performance
The company has a 50-day moving average price of $610.46 and a two-hundred day moving average price of $609.78.
Key Invesco QQQ News
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Pre-market strength and momentum: QQQ showed a notable pre-market jump that contributed to intraday buying interest, helping push flows back into Nasdaq-weighted tech names. Read More.
- Positive Sentiment: Buy-the-dip analyst commentary: Several pieces argue historical patterns favor buying after sharp short-term Nasdaq weakness, which can drive investor inflows into QQQ as a convenient way to regain tech exposure. Read More.
- Positive Sentiment: Long-term dip-buying case: Retail/institutional commentary (The Motley Fool / Yahoo syndication) repeats the historical argument to accumulate QQQ during sell-offs, which supports demand for the ETF from longer-term buyers. Read More.
- Positive Sentiment: Dividend record/ex-date: QQQ set a quarterly distribution (record/ex-dividend date March 23; payable March 27; $0.7328 per share, ~0.5% yield), which can modestly attract income-minded allocations and creates a short-term technical consideration around the ex-date.
- Neutral Sentiment: “Stay invested” guidance vs. hedging: Some market notes urge staying invested while also allocating to havens like gold — mixed messages that can support cautious buying in QQQ but limit large, conviction-driven inflows. Read More.
- Negative Sentiment: Macro and market-risk headlines: Coverage pointing to a recent Nasdaq slump, central-bank-driven volatility, stagflation worries and even commentary that a new bear phase may be starting increase risk aversion and could sustain outflows from QQQ if conditions worsen. Read More.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Goodman Advisory Group LLC bought a new stake in Invesco QQQ during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 43 shares during the last quarter. Shcp LLC purchased a new position in shares of Invesco QQQ during the 3rd quarter valued at about $27,000. Finally, Rachor Investment Advisory Services LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at about $29,000. 44.58% of the stock is 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.