Invesco QQQ (NASDAQ:QQQ) Trading Down 0.3%

Invesco QQQ (NASDAQ:QQQ) shares fell 0.3% during trading on Wednesday . The company traded as low as $473.59 and last traded at $475.17. 5,342,338 shares changed hands during trading, a decline of 87% from the average session volume of 40,335,973 shares. The stock had previously closed at $476.76.

Invesco QQQ Trading Down 1.6 %

The business’s 50 day moving average is $474.89 and its two-hundred day moving average is $454.07.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.65%.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospect Financial Services LLC grew its position 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 buying an additional 21 shares during the period. Sweeney & Michel LLC boosted its stake in Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after acquiring an additional 22 shares during the last quarter. Family Firm Inc. grew its holdings in Invesco QQQ by 3.1% during the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after purchasing an additional 22 shares during the period. Merriman Wealth Management LLC increased its stake in Invesco QQQ by 0.5% in the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after purchasing an additional 23 shares in the last quarter. Finally, Summit X LLC raised its holdings in Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after purchasing an additional 24 shares during the period. 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.