Invesco QQQ (NASDAQ:QQQ) Trading 1.4% Higher – What’s Next?

Invesco QQQ (NASDAQ:QQQGet Free Report) was up 1.4% during trading on Wednesday . The stock traded as high as $616.83 and last traded at $616.3390. Approximately 52,573,959 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 60,098,340 shares. The stock had previously closed at $607.87.

Key Invesco QQQ News

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

Invesco QQQ Trading Down 0.3%

The stock’s fifty day simple moving average is $616.27 and its 200-day simple moving average is $606.29.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $0.7941 dividend. The ex-dividend date was Monday, December 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.69. This represents a $3.18 annualized dividend and a dividend yield of 0.5%.

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after acquiring an additional 176 shares during the period. Jupiter Wealth Management LLC purchased a new position in Invesco QQQ in the 2nd quarter valued at $290,000. Wealth Group Ltd. increased its position in Invesco QQQ by 283.7% during the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock worth $13,587,000 after purchasing an additional 18,210 shares during the period. Finally, Ignite Planners LLC raised its position in Invesco QQQ by 2.0% in the second quarter. Ignite Planners LLC now owns 8,149 shares of the exchange traded fund’s stock worth $4,574,000 after acquiring an additional 160 shares in 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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