Invesco QQQ (NASDAQ:QQQ) Shares Down 1.9% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 1.9% during trading on Thursday . The company traded as low as $610.30 and last traded at $611.67. 70,873,164 shares were traded during trading, an increase of 50% from the average session volume of 47,384,621 shares. The stock had previously closed at $623.28.

Invesco QQQ Stock Down 0.3%

The company’s 50 day simple moving average is $601.34 and its two-hundred day simple moving average is $559.22.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were issued a $0.694 dividend. 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%. The ex-dividend date of this dividend was Monday, September 22nd.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at $30,000. Navigoe LLC raised its stake in shares of Invesco QQQ by 300.0% in the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. PayPay Securities Corp lifted its holdings in shares of Invesco QQQ by 78.9% during the third quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund’s stock worth $41,000 after purchasing an additional 30 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Invesco QQQ in the third quarter valued at approximately $42,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the second quarter valued at approximately $41,000. 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.