Invesco QQQ (NASDAQ:QQQ) Trading 1.1% Higher – Here’s What Happened

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price traded up 1.1% during trading on Wednesday . The stock traded as high as $716.65 and last traded at $714.71. 38,789,332 shares traded hands during trading, a decline of 33% from the average session volume of 58,182,781 shares. The stock had previously closed at $707.24.

Key Invesco QQQ News

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

Invesco QQQ Trading Down 1.5%

The company has a fifty day moving average price of $626.42 and a 200 day moving average price of $619.64.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.7328 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.4%.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC grew its holdings in Invesco QQQ by 3,567.7% in the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after buying an additional 20,852,432 shares in the last quarter. Bank of America Corp DE grew its holdings in Invesco QQQ by 381.0% in the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after buying an additional 26,505,055 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ by 11.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock worth $2,179,321,000 after buying an additional 375,581 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Invesco QQQ by 0.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund’s stock worth $1,843,749,000 after buying an additional 8,038 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Invesco QQQ by 21.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,025,000 shares of the exchange traded fund’s stock worth $1,858,288,000 after buying an additional 534,000 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Company Profile

(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.

Further Reading

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