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

Shares of Invesco QQQ (NASDAQ:QQQ) fell 0.4% on Friday . The stock traded as low as $502.78 and last traded at $503.12. 5,452,297 shares changed hands during trading, a decline of 86% from the average session volume of 37,945,020 shares. The stock had previously closed at $504.98.

Invesco QQQ Stock Performance

The company has a 50-day moving average of $493.08 and a 200-day moving average of $476.93.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

Institutional Trading of Invesco QQQ

Institutional investors have recently bought and sold shares of the stock. PBCay One RSC Ltd raised its stake in Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after acquiring an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Invesco QQQ by 140.6% in the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after purchasing an additional 142 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Invesco QQQ by 5.0% during the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after purchasing an additional 832 shares during the period. SVB Wealth LLC boosted its position in Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares during the last quarter. Finally, Ascent Group LLC increased its holdings in Invesco QQQ by 33.6% in the 1st quarter. Ascent Group LLC now owns 1,585 shares of the exchange traded fund’s stock worth $704,000 after buying an additional 399 shares during the period. 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.