Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3%

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price shot up 0.3% during trading on Wednesday . The stock traded as high as $487.79 and last traded at $487.00. 6,240,177 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 39,955,039 shares. The stock had previously closed at $485.37.

Invesco QQQ Price Performance

The company's 50-day moving average price is $467.59 and its two-hundred day moving average price is $459.22.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently made changes to their positions in QQQ. Anchor Investment Management LLC lifted its holdings in Invesco QQQ by 1.9% during the 2nd quarter. Anchor Investment Management LLC now owns 42,196 shares of the exchange traded fund's stock worth $20,216,000 after purchasing an additional 786 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Invesco QQQ by 47.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 9,966 shares of the exchange traded fund's stock worth $4,775,000 after buying an additional 3,196 shares in the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Invesco QQQ in the second quarter valued at about $290,000. Lazari Capital Management Inc. boosted its position in shares of Invesco QQQ by 299.6% in the second quarter. Lazari Capital Management Inc. now owns 5,671 shares of the exchange traded fund's stock valued at $2,717,000 after acquiring an additional 4,252 shares during the period. Finally, Creekside Partners acquired a new position in shares of Invesco QQQ in the second quarter valued at about $540,000. Institutional investors own 44.58% of the company's stock.

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.