Invesco QQQ (NASDAQ:QQQ) Trading 0.2% Higher - Here's Why

On Tuesday, shares of Invesco QQQ (NASDAQ:QQQ) rose by 0.2%. The stock reached a high of $524.69 before settling at $522.98. During the trading session, a total of 9,043,764 shares changed hands, which is a significant drop of 73% compared to the average volume of 33,029,555 shares. The previous closing price was $521.74.

Invesco QQQ Stock Performance

Currently, the stock is following a 50-day moving average of $516.72 and a 200-day moving average of $492.81. This trend suggests a positive outlook as it has been trading above these averages recently.

Invesco QQQ Announces Dividend

Recently, Invesco QQQ declared a dividend that was paid out on Tuesday, December 31st. Investors who were on record as of Monday, December 23rd, received a dividend payment of $0.8347. The ex-dividend date was also on Monday, December 23rd.

Institutional Trading of Invesco QQQ

There has been noteworthy activity among institutional investors regarding Invesco QQQ. For instance, GAMMA Investing LLC increased its holdings in the ETF by 159.6% in the fourth quarter, owning 3,349 shares valued at approximately $1,712,000 after acquiring an additional 2,059 shares. Similarly, Principal Financial Group Inc. raised its stake by 141.0% during the third quarter and now holds 19,399 shares valued at about $9,468,000 after purchasing an extra 11,351 shares. Additionally, Socha Financial Group LLC increased its position in the third quarter by 2.4%, now owning 91,650 shares worth around $44,732,000. NRI Wealth Management LC took a new position in QQQ in the fourth quarter valued at roughly $28,729,000. Finally, Garden State Investment Advisory Services LLC boosted its holdings by 13.1% in the third quarter, now owning 30,990 shares, which are valued at about $15,169,000. Overall, 44.58% of Invesco QQQ shares are owned by institutional investors.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1, is a unit investment trust that issues Nasdaq-100 Index Tracking Stock. Its primary goal is to provide investment results that reflect the price and yield performance of the Nasdaq-100 Index. This trust allows investors to buy units of beneficial interest, which represent a proportionate undivided interest in the portfolio of securities held by the trust.

Further Reading

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