Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2%

Invesco QQQ (NASDAQ:QQQ) dropped 0.2% on Monday . The stock traded as low as $476.26 and last traded at $478.17. Approximately 8,775,481 shares were traded during trading, a decline of 78% from the average daily volume of 40,807,406 shares. The stock had previously closed at $479.11.

Invesco QQQ Stock Performance

The stock’s 50 day simple moving average is $454.85 and its two-hundred day simple moving average is $436.77.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Invesco QQQ during the first quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC increased its position in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Invesco QQQ in the first quarter worth about $304,591,000. Finally, CHURCHILL MANAGEMENT Corp boosted its holdings in Invesco QQQ by 30.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after purchasing an additional 433,317 shares during the last quarter. 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.