Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 0.4% on Friday . The stock traded as low as $502.78 and last traded at $503.12. 5,452,297 shares were traded during mid-day trading, a decline of 86% from the average session volume of 37,945,020 shares. The stock had previously closed at $504.98.

Invesco QQQ Trading Up 0.1 %

The firm’s fifty day simple moving average is $492.47 and its 200 day simple moving average is $476.22.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the 2nd quarter worth $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC lifted its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in shares of Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 103 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

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.