Invesco QQQ (NASDAQ:QQQ) Trading 0.3% Higher - Here's Why

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $477.08 and last traded at $473.92. 21,065,494 shares changed hands during trading, a decline of 40% from the average session volume of 34,962,935 shares. The stock had previously closed at $472.73.

Invesco QQQ Trading Up 2.4 %

The firm's 50-day moving average price is $514.89 and its 200 day moving average price is $503.85. The company has a market cap of $302.59 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its position in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. NWI Management LP grew its holdings in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after buying an additional 3,648,000 shares during the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ during the fourth quarter worth about $679,936,000. Finally, Artemis Wealth Advisors LLC lifted its position in Invesco QQQ by 1,337.4% in the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after acquiring an additional 895,277 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

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About Invesco QQQ

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.