Invesco QQQ (NASDAQ:QQQ) Shares Up 0.9% - What's Next?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price shot up 0.9% on Friday . The stock traded as high as $490.48 and last traded at $488.24. 10,780,917 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 38,517,203 shares. The stock had previously closed at $483.85.

Invesco QQQ Trading Up 0.7 %

The firm's fifty day simple moving average is $481.80 and its two-hundred day simple moving average is $468.54.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock worth $15,904,322,000 after buying an additional 32,516,210 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock valued at $2,379,676,000 after purchasing an additional 338,494 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund's stock valued at $1,532,904,000 after buying an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund's stock worth $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. 44.58% of the stock is owned by 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.