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

Invesco QQQ (NASDAQ:QQQ) saw its share price increase by 0.2% on Tuesday. During the trading day, the stock reached a high of $524.69 before closing at $522.98. A total of 9,043,764 shares were traded, which is significantly lower than the average trading volume of 33,029,555 shares. The stock's previous closing price was $521.74.

Invesco QQQ Stock Performance

Currently, Invesco QQQ has a 50-day moving average of $516.72 and a 200-day moving average of $492.81, reflecting its recent trading behavior and overall performance.

Invesco QQQ Announces Dividend

Recently, the company announced a dividend, which was paid on December 31st. Shareholders who were on record as of December 23rd received a dividend of $0.8347 per share. The ex-dividend date was also set for December 23rd.

Institutional Trading of Invesco QQQ

Many institutional investors have been active in buying and selling shares of Invesco QQQ. For instance, GAMMA Investing LLC increased its holdings in the stock by 159.6% in the fourth quarter, now owning 3,349 shares with a value of $1,712,000. Principal Financial Group Inc. raised its stake by 141.0% during the third quarter and currently owns 19,399 shares valued at $9,468,000 after acquiring an additional 11,351 shares. Similarly, Socha Financial Group LLC boosted its position by 2.4%, owning 91,650 shares worth $44,732,000 after buying 2,171 more shares last quarter. NRI Wealth Management LC also entered a new position worth about $28,729,000 in the fourth quarter. Additionally, Garden State Investment Advisory Services LLC grew its holdings by 13.1%, now owning 30,990 shares valued at $15,169,000. Approximately 44.58% of Invesco QQQ is owned by institutional investors.

Invesco QQQ Company Profile

Invesco 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 mirror the performance of the Nasdaq-100 Index. The trust allows investors to purchase units that represent proportionate undivided interests in the portfolio, consisting of nearly all securities in the Nasdaq-100 Index.

Further Reading

For more insights, consider exploring topics such as stocks that may be better investments than Invesco QQQ, understanding dividends in ETFs, or identifying stocks positioned for growth this quarter.

Investing in the right assets is crucial, and while Invesco QQQ currently holds a "Hold" rating, analysts suggest there might be more attractive options available. Be informed and consider the latest market analyses before making investment decisions.

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