Invesco QQQ (NASDAQ:QQQ) Trading Up 0.3% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.3% during mid-day trading on Tuesday . The stock traded as high as $477.08 and last traded at $473.92. 21,065,494 shares were traded during trading, a decline of 40% from the average session volume of 34,962,935 shares. The stock had previously closed at $472.73.

Invesco QQQ Stock Performance

The company has a 50 day moving average of $516.50 and a 200 day moving average of $503.88. The firm has a market cap of $295.17 billion, a P/E ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after acquiring an additional 2,059 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after purchasing an additional 11,351 shares during the period. NRI Wealth Management LC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $28,729,000. Garden State Investment Advisory Services LLC boosted its stake in Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares during the period. Finally, Silverleafe Capital Partners LLC grew its holdings in Invesco QQQ by 16.8% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock valued at $23,165,000 after buying an additional 6,518 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

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.