Invesco QQQ (NASDAQ:QQQ) Sets New 52-Week High at $499.83

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $499.83 and last traded at $498.90, with a volume of 983290 shares changing hands. The stock had previously closed at $497.34.

Invesco QQQ Price Performance

The firm has a 50-day moving average price of $465.66 and a 200-day moving average price of $441.41.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.61%.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the first quarter valued at $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the 1st quarter valued at about $29,000. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $35,000. Finally, Red Tortoise LLC raised its holdings in shares of Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

(Get Free Report)

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.

Further Reading

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