Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.8% – Here’s Why

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 0.8% on Wednesday . The stock traded as low as $510.26 and last traded at $511.23. 29,055,953 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 37,113,145 shares. The stock had previously closed at $515.61.

Invesco QQQ Stock Performance

The business has a 50 day moving average price of $512.17 and a two-hundred day moving average price of $489.54.

Invesco QQQ Dividend Announcement

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

Institutional Trading of Invesco QQQ

Several large investors have recently modified their holdings of the business. Northeast Investment Management lifted its holdings in Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after buying an additional 20 shares during the period. Planning Capital Management Corp lifted its stake in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after acquiring an additional 20 shares during the period. Skyline Advisors Inc. boosted its holdings in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Madden Advisory Services Inc. increased its position in Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the period. Finally, Meridian Management Co. raised its holdings in Invesco QQQ by 0.6% in the 3rd quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock worth $1,640,000 after purchasing an additional 21 shares in the last quarter. 44.58% of the stock is 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.