Invesco QQQ (NASDAQ:QQQ) Hits New 52-Week High – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $637.49 and last traded at $637.5020, with a volume of 44171487 shares traded. The stock had previously closed at $628.60.

Invesco QQQ News Roundup

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

Invesco QQQ Stock Performance

The company’s 50 day simple moving average is $600.91 and its two-hundred day simple moving average is $610.32.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.7328 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a dividend yield of 0.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Discipline Wealth Solutions LLC boosted its stake in shares of Invesco QQQ by 3.0% in the first quarter. Discipline Wealth Solutions LLC now owns 2,730 shares of the exchange traded fund’s stock valued at $1,576,000 after purchasing an additional 80 shares during the period. Viewpoint Capital Management LLC boosted its stake in shares of Invesco QQQ by 6.4% in the first quarter. Viewpoint Capital Management LLC now owns 4,005 shares of the exchange traded fund’s stock valued at $2,312,000 after purchasing an additional 240 shares during the period. SVB Wealth LLC boosted its stake in shares of Invesco QQQ by 16.4% in the first quarter. SVB Wealth LLC now owns 7,665 shares of the exchange traded fund’s stock valued at $4,424,000 after purchasing an additional 1,078 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Invesco QQQ by 0.5% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 9,855 shares of the exchange traded fund’s stock valued at $5,688,000 after purchasing an additional 47 shares during the period. Finally, Anchyra Partners LLC boosted its stake in shares of Invesco QQQ by 12.5% in the first quarter. Anchyra Partners LLC now owns 1,951 shares of the exchange traded fund’s stock valued at $1,126,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.

Further Reading

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