Invesco QQQ (NASDAQ:QQQ) Trading Down 1.8% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price fell 1.8% during mid-day trading on Friday . The company traded as low as $503.92 and last traded at $505.80. 16,988,482 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 30,630,738 shares. The stock had previously closed at $515.27.

Invesco QQQ Price Performance

The company has a 50 day moving average price of $514.52 and a 200 day moving average price of $490.73.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Invesco QQQ by 159.6% in the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. lifted its stake in Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares during the period. Socha Financial Group LLC lifted its stake in Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after buying an additional 2,171 shares during the period. NRI Wealth Management LC bought a new position in Invesco QQQ during the fourth quarter worth about $28,729,000. Finally, Garden State Investment Advisory Services LLC grew its position in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after buying an additional 3,581 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Invesco QQQ

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.