Invesco QQQ (NASDAQ:QQQ) Trading Up 0.4% - What's Next?

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $497.92 and last traded at $497.41. 5,953,337 shares changed hands during trading, a decline of 85% from the average session volume of 38,585,293 shares. The stock had previously closed at $495.40.

Invesco QQQ Trading Up 1.0 %

The firm has a fifty day simple moving average of $480.79 and a 200 day simple moving average of $467.41.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. boosted its position in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund's stock worth $7,173,000 after purchasing an additional 1,993 shares in the last quarter. Socha Financial Group LLC boosted its position in shares of Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund's stock worth $39,494,000 after purchasing an additional 1,153 shares in the last quarter. SVB Wealth LLC boosted its position in shares of Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund's stock worth $8,240,000 after purchasing an additional 2,453 shares in the last quarter. WFA Asset Management Corp boosted its position in shares of Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund's stock worth $2,032,000 after purchasing an additional 1,894 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in Invesco QQQ by 30.4% during the 2nd quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund's stock worth $8,259,000 after acquiring an additional 4,015 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.