Invesco QQQ (NASDAQ:QQQ) Reaches New 1-Year High – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $650.20 and last traded at $646.5030, with a volume of 14224597 shares trading hands. The stock had previously closed at $646.79.

Key Headlines Impacting Invesco QQQ

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

Invesco QQQ Trading Down 0.6%

The stock’s fifty day moving average price is $603.84 and its 200-day moving average price is $611.68.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.7328 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.93 dividend on an annualized basis and a dividend yield of 0.4%.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently made changes to their positions in the company. Goodman Advisory Group LLC purchased a new position in Invesco QQQ during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $25,000. Shcp LLC purchased a new position in Invesco QQQ during the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 43 shares in the last quarter. Finally, Rachor Investment Advisory Services LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds 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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