Invesco QQQ (NASDAQ:QQQ) Reaches New 1-Year High

Invesco QQQ (NASDAQ:QQQ) reached a new 52-week high of $552.80, closing at $551.64 with a trading volume of over 45 million shares. The firm announced a quarterly dividend of $0.5911, payable on July 31st. Institutional investors have significantly increased their stakes, with Goldman Sachs raising its position by 959.6%. Currently, institutional ownership stands at 44.58%. Analysts maintain a Hold rating on the stock, suggesting it may not be the best buy compared to other options.

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $552.80 and last traded at $551.64, with a volume of 45311497 shares traded. The stock had previously closed at $548.09.

Invesco QQQ Trading Up 0.6%

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The firm's 50-day moving average price is $512.13 and its two-hundred day moving average price is $503.87.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

Hedge Funds Weigh In On Invesco QQQ

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth $2,775,904,000. NWI Management LP lifted its holdings in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $679,936,000. 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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