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

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares were up 0.3% on Wednesday . The stock traded as high as $481.06 and last traded at $472.94. Approximately 17,413,305 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 35,034,368 shares. The stock had previously closed at $471.60.

Invesco QQQ Trading Up 2.4 %

The firm has a fifty day moving average of $514.89 and a two-hundred day moving average of $503.85. The company has a market cap of $302.59 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Dividend Announcement

The business also recently announced 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 was Monday, December 23rd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. PayPay Securities Corp boosted its position in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP boosted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

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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.