Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2%

Invesco QQQ (NASDAQ:QQQ)’s share price fell 0.2% during trading on Monday . The company traded as low as $484.61 and last traded at $485.93. 5,363,133 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 39,745,887 shares. The stock had previously closed at $486.75.

Invesco QQQ Stock Performance

The business has a 50 day moving average price of $468.10 and a two-hundred day moving average price of $460.21.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

Institutional Trading of Invesco QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospect Financial Services LLC grew its holdings in shares of Invesco QQQ by 0.3% in the second 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 during the period. Sweeney & Michel LLC increased its holdings in shares of Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 22 shares during the last quarter. Family Firm Inc. raised its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after buying an additional 22 shares during the period. Merriman Wealth Management LLC lifted its holdings in Invesco QQQ by 0.5% in the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after acquiring an additional 23 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the period. Hedge funds and other 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.