Invesco QQQ (NASDAQ:QQQ) Trading Up 2.5% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQGet Free Report) shares were up 2.5% on Thursday following a dividend announcement from the company. The stock traded as high as $741.82 and last traded at $740.62. 48,915,354 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 55,956,383 shares. The stock had previously closed at $722.51.

The newly announced dividend which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be issued a $0.8135 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ Price Performance

The business’s 50-day moving average is $695.40 and its two-hundred day moving average is $639.48.

More Invesco QQQ News

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

  • Positive Sentiment: Invesco QQQ declared a quarterly dividend of $0.8135 per share, an 11.0% increase from the prior quarter, which can improve investor sentiment toward the fund. Article Title
  • Positive Sentiment: Multiple articles highlighted QQQ’s strong long-term performance, including commentary that a modest investment in the ETF a decade ago would now be worth far more, reinforcing its status as a premier growth benchmark. Article Title
  • Neutral Sentiment: Broader market and ETF coverage showed U.S. equity funds trading higher at times, suggesting the macro backdrop is supportive but not specific to QQQ alone. Article Title
  • Neutral Sentiment: Several Fed-related commentaries pointed to a more hawkish policy tone and less forward guidance, which could pressure rate-sensitive growth stocks even as investors assess the implications for the Nasdaq-100. Article Title

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of 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 acquiring an additional 26,505,055 shares during the period. Corient Private Wealth LLC raised its holdings in Invesco QQQ by 3,567.7% during the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after purchasing an additional 20,852,432 shares during the last quarter. Delta Global Management LP purchased a new stake in Invesco QQQ during the fourth quarter worth $821,084,000. Align Financial LLC purchased a new stake in Invesco QQQ during the fourth quarter worth $78,118,000. Finally, SG Americas Securities LLC grew its holdings in Invesco QQQ by 120.2% in the fourth quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock valued at $131,292,000 after purchasing an additional 1,270,102 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

About Invesco QQQ

(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.

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