Invesco QQQ (NASDAQ:QQQ) Stock Price Up 3.4% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQGet Free Report) rose 3.4% during mid-day trading on Tuesday . The stock traded as high as $578.64 and last traded at $577.1030. Approximately 94,010,776 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 65,859,961 shares. The stock had previously closed at $558.28.

Invesco QQQ News Roundup

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Performance

The stock’s 50 day moving average is $604.81 and its two-hundred day moving average is $609.63.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a dividend of $0.7328 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.5%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QQQ. Goodman Advisory Group LLC acquired a new position in Invesco QQQ in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Invesco QQQ during the fourth quarter worth about $25,000. Shcp LLC acquired a new position in shares of Invesco QQQ during the 3rd quarter worth about $27,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Invesco QQQ

(Get Free Report)

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.

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