Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.8% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s share price traded down 0.8% during mid-day trading on Thursday . The stock traded as low as $501.93 and last traded at $505.30. 24,880,947 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 37,868,289 shares. The stock had previously closed at $509.31.

Invesco QQQ Stock Down 0.8 %

The stock’s 50 day moving average price is $495.14 and its 200 day moving average price is $478.31.

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 given a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

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