Invesco QQQ (NASDAQ:QQQ) Shares Up 2.6%

Invesco QQQ (NASDAQ:QQQ) shares shot up 2.6% on Wednesday . The stock traded as high as $470.25 and last traded at $469.65. 13,110,281 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 40,152,895 shares. The stock had previously closed at $457.53.

Invesco QQQ Stock Performance

The firm’s 50-day moving average price is $474.91 and its 200 day moving average price is $448.69.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.65%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Invesco QQQ in the first quarter valued at approximately $28,000. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ in the first quarter worth $29,000. Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Finally, Red Tortoise LLC lifted its position in shares of Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares in the last quarter. 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.