Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2%

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0.2% during mid-day trading on Friday . The company traded as low as $487.92 and last traded at $488.55. Approximately 6,498,109 shares were traded during trading, a decline of 84% from the average daily volume of 39,836,855 shares. The stock had previously closed at $489.47.

Invesco QQQ Price Performance

The company has a 50 day moving average price of $467.87 and a 200 day moving average price of $459.61.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ during the first quarter worth $29,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the 2nd quarter valued at $30,000. Legacy Bridge LLC lifted its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ during the 4th quarter worth $35,000. 44.58% of the stock is 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.