Invesco QQQ (NASDAQ:QQQ) Trading Down 0.8% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) shares were down 0.8% on Thursday . The company traded as low as $501.93 and last traded at $505.30. Approximately 24,880,947 shares were traded during trading, a decline of 34% from the average daily volume of 37,868,289 shares. The stock had previously closed at $509.31.

Invesco QQQ Stock Up 0.9 %

The firm’s fifty day moving average is $496.13 and its two-hundred day moving average is $478.96.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. CGC Financial Services LLC grew 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 in the last quarter. PFG Private Wealth Management LLC increased its holdings in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the last quarter. Legacy Bridge LLC lifted its stake in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of Invesco QQQ during the 3rd quarter valued at about $62,000. Institutional investors 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.