Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.9% - Here's Why

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price was up 1.9% during trading on Monday . The stock traded as high as $465.05 and last traded at $463.05. Approximately 13,366,468 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 36,705,186 shares. The stock had previously closed at $454.40.

Invesco QQQ Stock Down 0.1 %

The company's fifty day moving average price is $484.22 and its two-hundred day moving average price is $501.32. The company has a market cap of $284.56 billion, a price-to-earnings ratio of 30.05 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. Shareholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in QQQ. Financial Partners Group LLC lifted its stake in shares of Invesco QQQ by 82.8% during the first quarter. Financial Partners Group LLC now owns 3,642 shares of the exchange traded fund's stock valued at $1,708,000 after acquiring an additional 1,650 shares during the period. Wolf Group Capital Advisors bought a new stake in Invesco QQQ during the 1st quarter worth about $279,000. Lion Street Advisors LLC lifted its position in Invesco QQQ by 5.4% during the 1st quarter. Lion Street Advisors LLC now owns 17,057 shares of the exchange traded fund's stock valued at $7,998,000 after purchasing an additional 878 shares during the period. Mezzasalma Advisors LLC grew its position in shares of Invesco QQQ by 1.4% during the 1st quarter. Mezzasalma Advisors LLC now owns 3,273 shares of the exchange traded fund's stock worth $1,535,000 after buying an additional 46 shares during the period. Finally, Shepherd Financial Partners LLC grew its holdings in Invesco QQQ by 4.7% during the 1st quarter. Shepherd Financial Partners LLC now owns 12,887 shares of the exchange traded fund's stock worth $6,043,000 after acquiring an additional 579 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

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.