Invesco QQQ (NASDAQ:QQQ) Stock Price Up 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price traded up 0.2% during mid-day trading on Wednesday . The company traded as high as $473.27 and last traded at $473.41. 10,239,114 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 35,056,552 shares. The stock had previously closed at $472.70.

Invesco QQQ Trading Up 1.1 %

The firm has a market cap of $303.26 billion, a PE ratio of 30.05 and a beta of 1.18. The company has a 50-day simple moving average of $506.34 and a 200 day simple moving average of $505.30.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Stephens Consulting LLC boosted its position in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after purchasing an additional 19 shares in the last quarter. Cardinal Point Capital Management ULC raised its stake in shares of Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after buying an additional 20 shares during the period. Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after acquiring an additional 20 shares during the period. Finally, RAM Investment Partners LLC increased its holdings in Invesco QQQ by 1.7% in the 4th quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Company Profile

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.