Invesco QQQ (NASDAQ:QQQ) Trading Up 0.4% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) rose 0.4% on Tuesday . The stock traded as high as $462.38 and last traded at $459.43. Approximately 12,366,107 shares traded hands during trading, a decline of 66% from the average daily volume of 36,727,433 shares. The stock had previously closed at $457.48.

Invesco QQQ Stock Performance

The company has a 50 day moving average price of $488.94 and a 200 day moving average price of $502.33. The company has a market capitalization of $286.14 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PayPay Securities Corp increased its stake in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter worth about $36,000. Roxbury Financial LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP lifted its holdings in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Invesco QQQ

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.