Invesco QQQ (NASDAQ:QQQ) Sets New 52-Week High – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $541.15 and last traded at $539.55, with a volume of 606673 shares. The stock had previously closed at $538.15.

Invesco QQQ Stock Down 0.4 %

The stock has a 50 day moving average of $523.26 and a 200 day moving average of $499.81.

Invesco QQQ Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in the business. Baer Investment Advisory LLC bought a new stake in Invesco QQQ in the fourth quarter worth approximately $2,143,000. Griffith & Werner Inc. bought a new stake in Invesco QQQ in the fourth quarter worth approximately $583,000. Michels Family Financial LLC bought a new stake in Invesco QQQ in the fourth quarter worth approximately $2,176,000. Westfuller Advisors LLC increased its holdings in Invesco QQQ by 1.2% in the fourth quarter. Westfuller Advisors LLC now owns 5,124 shares of the exchange traded fund’s stock worth $2,619,000 after purchasing an additional 59 shares in the last quarter. Finally, Peak Retirement Planning Inc. bought a new stake in Invesco QQQ in the fourth quarter worth approximately $6,761,000. 44.58% of the stock is currently owned by institutional investors.

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.