Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2% – Here’s Why

by · The Markets Daily

Invesco QQQ (NASDAQ:QQQ – Get Free Report)’s stock price rose 2% on Wednesday . The company traded as high as $503.79 and last traded at $501.94. Approximately 15,382,706 shares were traded during trading, a decline of 60% from the average daily volume of 38,391,031 shares. The stock had previously closed at $492.21.

Invesco QQQ Trading Up 2.7 %

The stock’s 50-day moving average is $483.00 and its two-hundred day moving average is $470.34.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently made changes to their positions in QQQ. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the 3rd 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 purchasing an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 934.0% in the 1st 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 purchasing an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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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