Invesco QQQ (NASDAQ:QQQ) Trading Down 0.6% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s stock price traded down 0.6% on Friday . The stock traded as low as $532.47 and last traded at $534.03. 9,197,055 shares traded hands during trading, a decline of 69% from the average session volume of 29,416,529 shares. The stock had previously closed at $537.23.

Invesco QQQ Price Performance

The business has a 50 day moving average price of $523.48 and a 200 day moving average price of $500.07.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently added to or reduced their stakes in QQQ. Perennial Advisors LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth approximately $2,109,000. Vermillion Wealth Management Inc. bought a new position in Invesco QQQ in the 4th quarter valued at $294,000. Forum Financial Management LP grew its stake in Invesco QQQ by 19.4% in the 4th quarter. Forum Financial Management LP now owns 5,335 shares of the exchange traded fund’s stock valued at $2,727,000 after purchasing an additional 867 shares during the period. Baer Investment Advisory LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $2,143,000. Finally, Griffith & Werner Inc. purchased a new stake in Invesco QQQ during the 4th quarter worth about $583,000. Institutional investors and hedge funds 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.