Invesco QQQ (NASDAQ:QQQ) Stock Price Up 2.1% – What’s Next?

Invesco QQQ (NASDAQ:QQQGet Free Report) shares shot up 2.1% during trading on Friday . The stock traded as high as $611.41 and last traded at $609.65. 76,836,864 shares changed hands during trading, an increase of 32% from the average session volume of 58,259,410 shares. The stock had previously closed at $597.03.

Key Stories Impacting Invesco QQQ

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

Invesco QQQ Trading Up 2.1%

The firm has a fifty day simple moving average of $619.89 and a 200-day simple moving average of $601.69.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $0.7941 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.18 annualized dividend and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.69.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after purchasing an additional 176 shares during the period. Jupiter Wealth Management LLC bought a new position in shares of Invesco QQQ during the second quarter worth $290,000. Pasadena Private Wealth LLC grew its holdings in shares of Invesco QQQ by 90.6% in the 2nd quarter. Pasadena Private Wealth LLC now owns 13,507 shares of the exchange traded fund’s stock valued at $7,451,000 after buying an additional 6,420 shares during the period. Finally, Wealth Group Ltd. increased its position in shares of Invesco QQQ by 283.7% in the 2nd quarter. Wealth Group Ltd. now owns 24,629 shares of the exchange traded fund’s stock valued at $13,587,000 after buying an additional 18,210 shares in the last quarter. 44.58% of the stock is owned by 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.

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