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

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 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 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 is $495.14 and its 200 day moving average is $478.31.

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

Hedge Funds Weigh In On Invesco QQQ

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