Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares shot up 0.2% during trading on Wednesday . The company traded as high as $473.27 and last traded at $473.41. 10,239,114 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 35,056,552 shares. The stock had previously closed at $472.70.

Invesco QQQ Stock Performance

The firm has a 50-day moving average price of $503.59 and a two-hundred day moving average price of $504.72. The firm has a market cap of $285.88 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC grew its holdings in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares during the last quarter. Toronto Dominion Bank increased its position in Invesco QQQ by 13.0% during 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 buying an additional 488,815 shares during the period. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. 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.