Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2%

Invesco QQQ (NASDAQ:QQQ) was down 0.2% during mid-day trading on Monday . The company traded as low as $476.26 and last traded at $478.17. Approximately 8,775,481 shares were traded during trading, a decline of 78% from the average daily volume of 40,807,406 shares. The stock had previously closed at $479.11.

Invesco QQQ Stock Performance

The stock’s 50 day moving average price is $456.11 and its 200-day moving average price is $437.32.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This is an increase 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 0.63%.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gotham Asset Management LLC boosted its stake in Invesco QQQ by 2.2% in the third quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock valued at $1,936,000 after acquiring an additional 115 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Invesco QQQ by 46.2% in the third quarter. Lazard Asset Management LLC now owns 16,155 shares of the exchange traded fund’s stock valued at $5,787,000 after acquiring an additional 5,105 shares in the last quarter. JT Stratford LLC boosted its stake in Invesco QQQ by 30.9% in the third quarter. JT Stratford LLC now owns 20,536 shares of the exchange traded fund’s stock valued at $7,358,000 after acquiring an additional 4,849 shares in the last quarter. Scotia Capital Inc. boosted its stake in Invesco QQQ by 2.4% in the third quarter. Scotia Capital Inc. now owns 80,455 shares of the exchange traded fund’s stock valued at $28,826,000 after acquiring an additional 1,878 shares in the last quarter. Finally, Roger Wittlin Investment Advisory LLC boosted its stake in Invesco QQQ by 10.4% in the third quarter. Roger Wittlin Investment Advisory LLC now owns 10,290 shares of the exchange traded fund’s stock valued at $3,688,000 after acquiring an additional 969 shares in 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.