Invesco QQQ (NASDAQ:QQQ) Trading 2.5% Higher - Here's What Happened

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) rose 2.5% during trading on Tuesday . The company traded as high as $443.25 and last traded at $444.10. Approximately 11,167,000 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 36,416,241 shares. The stock had previously closed at $433.11.

Invesco QQQ Stock Performance

The stock's 50 day simple moving average is $475.73 and its 200 day simple moving average is $500.14. The firm has a market cap of $299.02 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PayPay Securities Corp increased its holdings in shares of Invesco QQQ by 276.9% in 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 period. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $37,000. Finally, Hoese & Co LLP increased its stake in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying 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.