Invesco QQQ (NASDAQ:QQQ) Shares Down 1.2% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares traded down 1.2% on Wednesday . The company traded as low as $503.16 and last traded at $503.45. 7,577,617 shares changed hands during trading, a decline of 80% from the average session volume of 37,787,531 shares. The stock had previously closed at $509.31.

Invesco QQQ Price Performance

The business has a 50-day simple moving average of $494.46 and a two-hundred day simple moving average of $478.12.

Invesco QQQ Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its position in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the last quarter. Socha Financial Group LLC raised its holdings in Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after acquiring an additional 2,171 shares in the last quarter. Archer Investment Corp lifted its position in shares of Invesco QQQ by 10.2% in the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares during the period. Bank Hapoalim BM grew its holdings in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Finally, Marco Investment Management LLC raised its stake in shares of Invesco QQQ by 48.1% in the third quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares in the last quarter. 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.