Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2%

Invesco QQQ (NASDAQ:QQQ) was down 0.2% during mid-day trading on Monday . The stock traded as low as $484.61 and last traded at $485.93. Approximately 5,363,133 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 39,745,887 shares. The stock had previously closed at $486.75.

Invesco QQQ Stock Performance

The firm’s 50-day moving average price is $468.10 and its 200 day moving average price is $460.21.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sage Advisors LLC raised its position in shares of Invesco QQQ by 7.0% in the 2nd quarter. Sage Advisors LLC now owns 3,061 shares of the exchange traded fund’s stock valued at $1,467,000 after acquiring an additional 200 shares during the period. Alternative Investment Advisors LLC. bought a new position in Invesco QQQ in the second quarter valued at approximately $443,000. Anchor Investment Management LLC boosted its holdings in shares of Invesco QQQ by 1.9% in the second quarter. Anchor Investment Management LLC now owns 42,196 shares of the exchange traded fund’s stock valued at $20,216,000 after buying an additional 786 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of Invesco QQQ by 47.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 9,966 shares of the exchange traded fund’s stock worth $4,775,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of Invesco QQQ during the second quarter worth $290,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.