Invesco QQQ (NASDAQ:QQQ) Trading Up 1.9% - Here's What Happened

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price rose 1.9% during mid-day trading on Friday . The stock traded as high as $477.51 and last traded at $477.10. Approximately 14,402,614 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 35,019,846 shares. The stock had previously closed at $468.34.

Invesco QQQ Price Performance

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

Invesco QQQ Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. PayPay Securities Corp lifted its holdings in shares of Invesco QQQ by 276.9% during the fourth 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 period. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ during the fourth quarter valued at $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at $37,000. Finally, Hoese & Co LLP lifted its holdings in shares of Invesco QQQ by 32.3% during the fourth 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 period. 44.58% of the stock is owned by institutional investors.

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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.