Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.5% during trading on Wednesday . The stock traded as high as $429.73 and last traded at $427.36. 17,314,226 shares traded hands during trading, a decline of 62% from the average session volume of 45,640,828 shares. The stock had previously closed at $425.07.

Invesco QQQ Stock Performance

The company has a 50 day moving average of $436.87 and a 200-day moving average of $409.67.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently added to or reduced their stakes in the company. Summit X LLC lifted its holdings in Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after buying an additional 24 shares during the period. IMA Wealth Inc. increased its position in shares of Invesco QQQ by 1.3% during the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after acquiring an additional 25 shares in the last quarter. S.A. Mason LLC increased its stake in Invesco QQQ by 1.5% in the 4th quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after buying an additional 25 shares during the last quarter. Lauterbach Financial Advisors LLC increased its stake in Invesco QQQ by 0.4% in the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after buying an additional 25 shares during the last quarter. Finally, Cedrus LLC increased its stake in Invesco QQQ by 1.7% in the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after buying an additional 25 shares during the last quarter. 44.58% of the stock is currently 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.