Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.3% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) traded down 0.3% on Wednesday . The company traded as low as $519.02 and last traded at $520.09. 6,290,423 shares traded hands during trading, a decline of 81% from the average session volume of 32,770,086 shares. The stock had previously closed at $521.81.

Invesco QQQ Stock Performance

The business’s 50 day simple moving average is $519.22 and its two-hundred day simple moving average is $493.95.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in shares of Invesco QQQ by 0.8% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,840,025 shares of the exchange traded fund’s stock worth $940,676,000 after purchasing an additional 13,772 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Invesco QQQ by 0.3% in the third quarter. Stifel Financial Corp now owns 871,333 shares of the exchange traded fund’s stock worth $425,324,000 after purchasing an additional 2,572 shares during the last quarter. 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.