Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price was down 0.4% during mid-day trading on Thursday . The company traded as low as $526.02 and last traded at $527.95. Approximately 6,508,965 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 37,164,410 shares. The stock had previously closed at $529.92.

Invesco QQQ Trading Up 0.8 %

The company’s fifty day moving average is $503.79 and its 200 day moving average is $483.79.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.51%.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently bought and sold shares of QQQ. Mechanics Financial Corp bought a new stake in Invesco QQQ in the second quarter valued at approximately $30,000. Legacy Bridge LLC increased its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the period. BNP Paribas bought a new stake in Invesco QQQ during the 3rd quarter valued at $62,000. CarsonAllaria Wealth Management Ltd. boosted its position in Invesco QQQ by 27.2% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock valued at $63,000 after buying an additional 28 shares during the period. Finally, Bray Capital Advisors grew its holdings in Invesco QQQ by 78.0% in the 2nd quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after acquiring an additional 64 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.