Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.1% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) fell 0.1% during trading on Wednesday . The company traded as low as $496.64 and last traded at $499.54. 7,965,809 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 38,544,535 shares. The stock had previously closed at $500.16.

Invesco QQQ Price Performance

The business has a 50 day simple moving average of $481.65 and a 200 day simple moving average of $468.15.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the second quarter valued at about $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC increased its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.