Invesco QQQ (NASDAQ:QQQ) Declares $0.72 Dividend

Invesco QQQ (NASDAQ:QQQ) announced a dividend on March 24th. Shareholders who are on record as of this date will receive a dividend of $0.7157 per share, payable on April 30th. The ex-dividend date is also set for March 24th, marking the last day that shares must be owned to receive the upcoming dividend.

Recent Stock Performance

On the day of the announcement, shares of NASDAQ:QQQ rose by 2.0%, trading at $490.66. The trading volume reached about 34,375,719 shares, which is slightly below its average of 34,902,808 shares. Invesco QQQ currently holds a market capitalization of $309.24 billion, a price-to-earnings (PE) ratio of 30.74, and a beta of 1.11. The stock’s fifty-day moving average is positioned at $511.30, while its two-hundred-day moving average stands at $504.45. The fund has witnessed a yearly low of $413.07 and a high of $540.81 over the past twelve months.

Institutional Investor Activity

Recently, Revolve Wealth Partners LLC has increased its investment in Invesco QQQ stock by 3.5% during the last quarter of the year. This institutional investor now holds 5,257 shares of the ETF after acquiring an additional 176 shares during that period. As of the most recent reporting, the value of Revolve Wealth Partners LLC's holdings in Invesco QQQ is approximately $2,687,000. Notably, 44.58% of the total shares of Invesco QQQ are owned by hedge funds and other institutional investors.

About Invesco QQQ

The PowerShares QQQ Trust, Series 1, is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. Its primary investment goal is to reflect the price and yield performance of the Nasdaq-100 Index. The trust allows investors to purchase units representing proportional undivided interests in a portfolio of securities that closely mirrors the composition of the Nasdaq-100 Index.

Investor Considerations

Before investing in Invesco QQQ, it's important to weigh your options. Currently, analysts maintain a "Hold" rating on this ETF. However, other stocks are being highlighted as potentially better investments at this time, based on recommendations from leading market analysts. Investors are encouraged to consider their choices carefully.

dividend, investment, ETF