Invesco QQQ (NASDAQ:QQQ) Trading 1.2% Higher After Dividend Announcement

Shares of Invesco QQQ (NASDAQ:QQQ) traded up 1.2% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $538.19 and last traded at $538.22. 13,206,064 shares changed hands during trading, a decline of 66% from the average session volume of 38,589,548 shares. The stock had previously closed at $531.65.

The newly announced dividend which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.44%.

Invesco QQQ Trading Up 0.3%

The stock has a fifty day moving average of $505.63 and a 200-day moving average of $503.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Rainier Family Wealth Inc. grew its holdings in shares of Invesco QQQ by 38.4% during the first quarter. Rainier Family Wealth Inc. now owns 5,553 shares of the exchange traded fund’s stock worth $2,604,000 after buying an additional 1,540 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Invesco QQQ by 34.0% during the first quarter. Howe & Rusling Inc. now owns 579 shares of the exchange traded fund’s stock worth $272,000 after buying an additional 147 shares in the last quarter. Peterson Wealth Management grew its holdings in shares of Invesco QQQ by 1.0% during the first quarter. Peterson Wealth Management now owns 29,719 shares of the exchange traded fund’s stock worth $13,936,000 after buying an additional 292 shares in the last quarter. Optima Capital LLC grew its stake in Invesco QQQ by 7.0% in the first quarter. Optima Capital LLC now owns 3,888 shares of the exchange traded fund’s stock valued at $1,823,000 after purchasing an additional 255 shares in the last quarter. Finally, Compass Financial Services Inc grew its stake in Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.