Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.4%

Invesco QQQ (NASDAQ:QQQ) was up 0.4% during mid-day trading on Thursday . The stock traded as high as $427.88 and last traded at $427.52. Approximately 14,788,212 shares traded hands during trading, a decline of 67% from the average daily volume of 45,188,051 shares. The stock had previously closed at $425.84.

Invesco QQQ Price Performance

The stock’s 50-day moving average is $437.60 and its 200 day moving average is $407.88.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of QQQ. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ during the first quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Red Tortoise LLC grew its holdings in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares during the period. Robinson Capital Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $40,000. Finally, Friedenthal Financial purchased a new position in Invesco QQQ in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds 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.