Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.1% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s share price was up 0.1% during trading on Wednesday . The stock traded as high as $536.57 and last traded at $536.53. Approximately 4,618,417 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 37,012,973 shares. The stock had previously closed at $535.80.

Invesco QQQ Price Performance

The firm’s 50-day moving average price is $505.84 and its 200-day moving average price is $485.36.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.51%.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC raised its holdings in Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC lifted its position in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Invesco QQQ by 13.0% in 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 purchasing an additional 488,815 shares during the last quarter. Finally, Mirae Asset Securities USA Inc. bought a new position in Invesco QQQ in the second quarter worth approximately $215,600,000. Hedge funds and other institutional investors 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.