Invesco QQQ (NASDAQ:QQQ) Hits New 1-Year High After Dividend Announcement

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $600.72 and last traded at $599.98, with a volume of 18334472 shares changing hands. The stock had previously closed at $599.35.The newly announced dividend which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%.Invesco QQQ Stock Up 0.3%Vanguard’s VUG ETF: The Ultimate Growth ETF for Your PortfolioThe firm's 50 day moving average is $572.19 and its 200 day moving average is $524.01. Hedge Funds Weigh In On Invesco QQQSeveral institutional investors and hedge funds have recently added to or reduced their stakes in QQQ. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $30,000. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ during the second quarter worth $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the first quarter worth $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at $51,000. Finally, Blume Capital Management Inc. increased its stake in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock. Invesco QQQ Company Profile (Get Free Report)Forget QQQ: This ETF Marries the Magnificent 7 and CommunicationsPowerShares 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.Read MoreFive stocks we like better than Invesco QQQWhy Invest in High-Yield Dividend Stocks?3 Small Caps That Insiders Are Buying How to Read Stock Charts for Beginners3 Big Short Interest Names With Bullish SetupsHow Investors Can Find the Best Cheap Dividend StocksWhy Datavault May be the Penny AI Stock Investors Have Waited ForThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Microsoft’s AI Bet Faces a Major Test This Earnings SeasonShould You Invest $1,000 in Invesco QQQ Right Now?Before you consider Invesco QQQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here