Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) dropped 0.2% on Tuesday . The stock traded as low as $513.37 and last traded at $514.49. Approximately 6,388,648 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 37,580,438 shares. The stock had previously closed at $515.29.

Invesco QQQ Trading Up 0.1 %

The stock has a 50 day moving average of $496.13 and a 200-day moving average of $479.38.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of QQQ. Northeast Investment Management lifted its stake in shares of Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the period. Planning Capital Management Corp lifted its position in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the period. Prospect Financial Services LLC boosted its stake in Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares in the last quarter. Skyline Advisors Inc. increased its position in shares of Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares during the period. Finally, Madden Advisory Services Inc. raised its stake in shares of Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after buying an additional 21 shares in 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.