Invesco QQQ (NASDAQ:QQQ) Sets New 1-Year High at $339.42

Invesco QQQ (NASDAQ:QQQ – Get Rating) reached a new 52-week high during trading on Thursday . The stock traded as high as $339.42 and last traded at $337.41, with a volume of 13588497 shares changing hands. The stock had previously closed at $331.65.

Invesco QQQ Trading Up 2.6 %

The firm has a fifty day simple moving average of $324.75 and a 200-day simple moving average of $312.53.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Tuesday, March 21st were issued a dividend of $0.472 per share. This represents a $1.89 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, March 20th.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barrett & Company Inc. bought a new position in shares of Invesco QQQ in the first quarter worth $26,000. Cascade Investment Advisors Inc. bought a new position in shares of Invesco QQQ in the first quarter worth $28,000. GoalVest Advisory LLC increased its position in shares of Invesco QQQ by 168.3% in the fourth quarter. GoalVest Advisory LLC now owns 169 shares of the exchange traded fund’s stock worth $45,000 after purchasing an additional 106 shares during the period. Elequin Securities LLC bought a new position in shares of Invesco QQQ in the first quarter worth $47,000. Finally, PayPay Securities Corp bought a new position in shares of Invesco QQQ in the fourth quarter worth $50,000. Institutional investors and hedge funds own 43.08% of the company’s stock.

About Invesco QQQ

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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.