Invesco QQQ (NASDAQ:QQQ) Shares Up 1.7% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price rose 1.7% during trading on Monday . The company traded as high as $524.07 and last traded at $521.74. Approximately 51,701,068 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 29,197,722 shares. The stock had previously closed at $513.08.

Invesco QQQ Price Performance

The stock’s fifty day moving average is $516.10 and its 200 day moving average is $492.33.

Invesco QQQ Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hoese & Co LLP raised its position in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the period. Legacy Bridge LLC raised its position in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas purchased a new stake in Invesco QQQ in the 3rd quarter worth about $62,000. Brooklyn Investment Group purchased a new stake in Invesco QQQ in the 4th quarter worth about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its position in shares of Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after acquiring an additional 63 shares during the period. 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.