Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.5% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 1.5% during mid-day trading on Friday . The company traded as high as $530.87 and last traded at $531.14. 8,442,274 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 32,295,564 shares. The stock had previously closed at $523.05.

Invesco QQQ Price Performance

The business’s 50-day simple moving average is $519.22 and its 200-day simple moving average is $493.95.

Invesco QQQ Dividend Announcement

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently made changes to their positions in the business. PayPay Securities Corp raised its holdings in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at $37,000. Hoese & Co LLP grew its holdings in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares during the period. Legacy Bridge LLC increased its position in Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the last quarter. Finally, BNP Paribas bought a new position in Invesco QQQ in the third quarter valued at about $62,000. 44.58% of the stock is owned by hedge funds and other 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.