Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price traded up 0.5% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $493.51 and last traded at $493.21. 9,253,483 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 36,757,281 shares. The stock had previously closed at $490.66.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Invesco QQQ Stock Down 2.4 %

The company has a market capitalization of $296.20 billion, a P/E ratio of 30.74 and a beta of 1.11. The business has a 50 day moving average of $509.49 and a 200 day moving average of $504.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QQQ. Proficio Capital Partners LLC grew its stake in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Remove Ads

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.