Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2.6% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) was up 2.6% on Monday . The stock traded as high as $606.68 and last traded at $605.16. Approximately 58,671,503 shares traded hands during trading, an increase of 20% from the average daily volume of 48,781,441 shares. The stock had previously closed at $590.07.

Invesco QQQ Stock Up 2.6%

The company has a 50 day moving average of $607.42 and a two-hundred day moving average of $570.55.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were given a $0.694 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of the business. LifeGoal Investments LLC purchased a new stake in Invesco QQQ in the third quarter worth about $394,000. Petix & Botte Co boosted its position in shares of Invesco QQQ by 2.7% in the 3rd quarter. Petix & Botte Co now owns 13,953 shares of the exchange traded fund’s stock worth $8,377,000 after purchasing an additional 369 shares in the last quarter. Tcfg Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 3rd quarter worth approximately $1,668,000. WBI Investments LLC increased its position in Invesco QQQ by 6.7% during the 3rd quarter. WBI Investments LLC now owns 9,699 shares of the exchange traded fund’s stock valued at $5,823,000 after buying an additional 613 shares in the last quarter. Finally, Kensington Investment Counsel LLC raised its stake in Invesco QQQ by 8.8% during the third quarter. Kensington Investment Counsel LLC now owns 8,190 shares of the exchange traded fund’s stock valued at $4,917,000 after buying an additional 659 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.