Invesco QQQ (NASDAQ:QQQ) Trading Up 1.9% – Here’s Why

Invesco QQQ (NASDAQ:QQQGet Free Report) shares were up 1.9% on Friday . The stock traded as high as $664.51 and last traded at $664.0960. Approximately 44,742,617 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 61,516,090 shares. The stock had previously closed at $651.42.

Invesco QQQ News Summary

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Up 1.9%

The firm has a fifty day moving average of $606.10 and a two-hundred day moving average of $612.40.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a $0.7328 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a yield of 0.4%.

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently added to or reduced their stakes in QQQ. Bank of America Corp DE increased its holdings in Invesco QQQ by 381.0% in the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after acquiring an additional 26,505,055 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Invesco QQQ by 3,567.7% in the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after acquiring an additional 20,852,432 shares during the last quarter. Delta Global Management LP purchased a new stake in Invesco QQQ in the 4th quarter worth about $821,084,000. Align Financial LLC purchased a new stake in Invesco QQQ in the 4th quarter worth about $78,118,000. Finally, SG Americas Securities LLC increased its holdings in Invesco QQQ by 120.2% in the 4th quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock worth $131,292,000 after acquiring an additional 1,270,102 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

(Get Free Report)

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.

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