Invesco QQQ Trust (NASDAQ:QQQ) Shares Up 0.5%

Invesco QQQ Trust (NASDAQ:QQQ)’s share price traded up 0.5% during mid-day trading on Wednesday . The company traded as high as $429.73 and last traded at $427.36. Approximately 17,314,226 shares changed hands during trading, a decline of 62% from the average session volume of 45,640,828 shares. The stock had previously closed at $425.07.

Invesco QQQ Trust Stock Performance

The company has a 50 day simple moving average of $437.20 and a two-hundred day simple moving average of $409.44.

Invesco QQQ Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Institutional Investors Weigh In On Invesco QQQ Trust

Several hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC grew its stake in Invesco QQQ Trust by 7,298.6% during the 1st quarter. Simplicity Wealth LLC now owns 107,353 shares of the exchange traded fund’s stock valued at $46,956,000 after acquiring an additional 105,902 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Invesco QQQ Trust by 10.0% in the first quarter. Spire Wealth Management now owns 32,805 shares of the exchange traded fund’s stock valued at $14,566,000 after purchasing an additional 2,976 shares during the last quarter. Essex Financial Services Inc. lifted its position in Invesco QQQ Trust by 2.3% during the first quarter. Essex Financial Services Inc. now owns 79,738 shares of the exchange traded fund’s stock worth $35,404,000 after buying an additional 1,765 shares in the last quarter. Solstein Capital LLC boosted its stake in Invesco QQQ Trust by 11.1% during the first quarter. Solstein Capital LLC now owns 2,626 shares of the exchange traded fund’s stock worth $1,166,000 after buying an additional 263 shares during the last quarter. Finally, Dechtman Wealth Management LLC purchased a new stake in Invesco QQQ Trust in the 1st quarter valued at $285,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trust 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.