Invesco QQQ (NASDAQ:QQQ) Trading Up 0.7% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.7% during mid-day trading on Friday . The company traded as high as $509.51 and last traded at $508.79. 6,551,187 shares changed hands during trading, a decline of 83% from the average session volume of 37,728,883 shares. The stock had previously closed at $505.30.

Invesco QQQ Stock Up 0.9 %

The firm’s 50-day simple moving average is $495.58 and its 200 day simple moving average is $478.50.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Toronto Dominion Bank lifted its position in Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after purchasing an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. bought a new position in Invesco QQQ during the 2nd quarter valued at $215,600,000. 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.