Invesco QQQ (NASDAQ:QQQ) Trading Up 0.8%

Invesco QQQ (NASDAQ:QQQ)’s stock price shot up 0.8% during trading on Monday . The stock traded as high as $498.88 and last traded at $498.63. 6,258,397 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 39,996,453 shares. The stock had previously closed at $494.82.

Invesco QQQ Price Performance

The company’s fifty day simple moving average is $468.15 and its 200 day simple moving average is $442.80.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, June 24th.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently modified their holdings of QQQ. International Assets Investment Management LLC lifted its position in Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Commonwealth Equity Services LLC lifted its position in Invesco QQQ by 7.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after purchasing an additional 162,691 shares during the period. Finally, CHURCHILL MANAGEMENT Corp lifted its position in Invesco QQQ by 30.7% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after purchasing an additional 433,317 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.