Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1%

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 1% during trading on Thursday . The stock traded as low as $497.35 and last traded at $497.92. Approximately 12,483,564 shares were traded during trading, a decline of 69% from the average daily volume of 39,989,953 shares. The stock had previously closed at $502.96.

Invesco QQQ Trading Down 2.2 %

The business has a fifty day simple moving average of $465.66 and a 200 day simple moving average of $441.41.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Monday, June 24th.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of QQQ. International Assets Investment Management LLC increased its holdings in shares of 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 worth $11,602,698,000 after buying an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Invesco QQQ in the first quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC boosted its holdings in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Commonwealth Equity Services LLC increased its stake in Invesco QQQ by 7.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after purchasing an additional 162,691 shares during the period. Finally, CHURCHILL MANAGEMENT Corp lifted its holdings in Invesco QQQ by 30.7% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after buying an additional 433,317 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.