Invesco QQQ (NASDAQ:QQQ) Sets New 52-Week High – Here’s Why

Invesco QQQ (NASDAQ:QQQ) reached a new 52-week high during trading on Tuesday . The stock traded as high as $541.15 and last traded at $539.55, with a volume of 606673 shares changing hands. The stock had previously closed at $538.15.

Invesco QQQ Trading Down 0.4 %

The company has a fifty day moving average price of $523.26 and a 200 day moving average price of $499.81.

Invesco QQQ Dividend Announcement

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

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently bought and sold shares of the stock. Stephens Consulting LLC grew its holdings in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares in the last quarter. Northeast Investment Management boosted its position in Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp boosted its position in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the last quarter. Cardinal Point Capital Management ULC boosted its position in Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares during the last quarter. Finally, Hoese & Co LLP boosted its position in 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 purchasing an additional 20 shares during the last quarter. 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.