Invesco QQQ (NASDAQ:QQQ) Trading 1.9% Higher – What’s Next?

Invesco QQQ (NASDAQ:QQQ) was up 1.9% during mid-day trading on Monday . The stock traded as high as $465.05 and last traded at $463.05. Approximately 13,366,468 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 36,705,186 shares. The stock had previously closed at $454.40.

Invesco QQQ Price Performance

The business’s 50 day moving average price is $490.33 and its 200 day moving average price is $502.54. The firm has a market cap of $286.96 billion, a PE ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently modified their holdings of the business. Proficio Capital Partners LLC raised its holdings in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares during the period. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the period. Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock worth $1,239,886,000 after acquiring an additional 52,235 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.