Invesco QQQ (NASDAQ:QQQ) Trading Down 0.1%

Invesco QQQ (NASDAQ:QQQ)’s stock price traded down 0.1% on Tuesday . The company traded as low as $484.14 and last traded at $484.50. 7,111,775 shares were traded during mid-day trading, a decline of 83% from the average session volume of 41,458,379 shares. The stock had previously closed at $485.06.

Invesco QQQ Price Performance

The business’s 50-day moving average price is $447.93 and its two-hundred day moving average price is $432.20.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ in the first quarter valued at approximately $29,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Finally, Red Tortoise LLC grew its holdings in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Invesco QQQ

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.