Invesco QQQ (NASDAQ:QQQ) Shares Up 3% - Here's Why

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) were up 3% on Tuesday . The company traded as high as $443.14 and last traded at $436.49. Approximately 33,198,888 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 41,101,410 shares. The stock had previously closed at $423.69.

Invesco QQQ Trading Up 1.8 %

The stock has a market capitalization of $283.95 billion, a PE ratio of 30.05 and a beta of 1.11. The stock's fifty day simple moving average is $490.33 and its 200-day simple moving average is $502.44.

Invesco QQQ Cuts Dividend

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

Institutional Trading of Invesco QQQ

Several hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC increased 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 valued at $5,879,434,000 after buying an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC grew its stake in 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 acquiring an additional 4,105,389 shares in the last quarter. NWI Management LP increased its holdings in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the period. GAMMA Investing LLC lifted its stake in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in Invesco QQQ in the 4th quarter valued at $679,936,000. 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.