Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.2%

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 1.2% on Wednesday . The company traded as low as $452.73 and last traded at $452.93. 11,400,764 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 40,222,730 shares. The stock had previously closed at $458.66.

Invesco QQQ Price Performance

The company’s fifty day moving average is $470.51 and its two-hundred day moving average is $456.80.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%.

Institutional Trading of Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the business. Vantage Financial Partners LLC raised its holdings in shares of Invesco QQQ by 68.0% during the fourth quarter. Vantage Financial Partners LLC now owns 29,550 shares of the exchange traded fund’s stock valued at $12,101,000 after acquiring an additional 11,957 shares during the last quarter. Concentrum Wealth Management lifted its holdings in Invesco QQQ by 15.4% in the 4th quarter. Concentrum Wealth Management now owns 14,662 shares of the exchange traded fund’s stock valued at $6,004,000 after purchasing an additional 1,962 shares in the last quarter. Rollins Financial lifted its holdings in Invesco QQQ by 11.8% in the 4th quarter. Rollins Financial now owns 187,590 shares of the exchange traded fund’s stock valued at $76,822,000 after purchasing an additional 19,785 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Invesco QQQ by 30.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,047 shares of the exchange traded fund’s stock worth $1,248,000 after purchasing an additional 706 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Invesco QQQ by 1.2% during the fourth quarter. Principal Financial Group Inc. now owns 8,437 shares of the exchange traded fund’s stock worth $3,455,000 after buying an additional 102 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.