Invesco QQQ (NASDAQ:QQQ) Shares Up 1% Following Dividend Announcement

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price was up 1% on Monday following a dividend announcement from the company. The stock traded as high as $595.08 and last traded at $588.00. Approximately 88,963,468 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 64,905,391 shares. The stock had previously closed at $582.06.

The newly announced dividend which will be paid on Friday, March 27th. Investors of record on Monday, March 23rd will be issued a $0.7328 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 23rd.

Invesco QQQ Trading Up 1.0%

The company’s 50-day moving average is $609.68 and its two-hundred day moving average is $609.87.

More Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in shares of Invesco QQQ by 3,567.7% in the fourth quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock valued at $13,168,912,000 after buying an additional 20,852,432 shares during the period. Bank of America Corp DE increased its holdings in Invesco QQQ by 381.0% in the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock worth $12,008,257,000 after acquiring an additional 26,505,055 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Invesco QQQ by 11.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,547,591 shares of the exchange traded fund’s stock worth $2,179,321,000 after acquiring an additional 375,581 shares during the last quarter. HRT Financial LP raised its stake in Invesco QQQ by 118.3% in the 2nd quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund’s stock valued at $1,735,226,000 after acquiring an additional 1,704,600 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Invesco QQQ by 0.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund’s stock valued at $1,843,749,000 after acquiring an additional 8,038 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.

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