Invesco QQQ (NASDAQ:QQQ) Shares Up 1.5%

Invesco QQQ (NASDAQ:QQQ)’s stock price shot up 1.5% on Friday . The company traded as high as $436.48 and last traded at $433.25. 19,900,502 shares changed hands during trading, a decline of 56% from the average session volume of 45,550,371 shares. The stock had previously closed at $426.90.

Invesco QQQ Stock Up 2.0 %

The stock’s fifty day simple moving average is $436.53 and its two-hundred day simple moving average is $412.18.

Invesco QQQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were given a $0.5735 dividend. This represents a $2.29 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 18th.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently modified their holdings of the company. Hemington Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $222,000. McClarren Financial Advisors Inc. grew its stake in Invesco QQQ by 23.2% during the first quarter. McClarren Financial Advisors Inc. now owns 4,441 shares of the exchange traded fund’s stock worth $1,972,000 after buying an additional 837 shares during the period. Coulter & Justus Financial Services LLC acquired a new stake in shares of Invesco QQQ in the first quarter worth $640,000. Geneos Wealth Management Inc. raised its stake in shares of Invesco QQQ by 17.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 49,343 shares of the exchange traded fund’s stock valued at $21,909,000 after acquiring an additional 7,467 shares during the period. Finally, Essex LLC lifted its holdings in shares of Invesco QQQ by 6.3% during the 1st quarter. Essex LLC now owns 1,421 shares of the exchange traded fund’s stock valued at $631,000 after acquiring an additional 84 shares in the last quarter. 44.58% of the stock is currently 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.