Invesco QQQ (NASDAQ:QQQ) Shares Down 0.1% – Here’s Why

by · The Cerbat Gem

Invesco QQQ (NASDAQ:QQQ – Get Free Report)’s share price traded down 0.1% during trading on Wednesday . The company traded as low as $487.57 and last traded at $490.53. 6,797,507 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 39,060,172 shares. The stock had previously closed at $490.85.

Invesco QQQ Stock Performance

The firm’s 50 day simple moving average is $476.80 and its 200 day simple moving average is $464.48.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.55%.

Institutional Trading of Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the company. Apella Capital LLC increased its stake in Invesco QQQ by 1.8% in the 1st quarter. Apella Capital LLC now owns 3,382 shares of the exchange traded fund’s stock worth $1,496,000 after buying an additional 60 shares during the period. Park Avenue Securities LLC raised its stake in shares of Invesco QQQ by 20.7% during the first quarter. Park Avenue Securities LLC now owns 18,978 shares of the exchange traded fund’s stock valued at $8,427,000 after acquiring an additional 3,256 shares in the last quarter. Capital CS Group LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $368,000. Financiere des Professionnels Fonds d investissement inc. grew its stake in Invesco QQQ by 5.8% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 63,950 shares of the exchange traded fund’s stock worth $28,394,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC increased its holdings in Invesco QQQ by 241.4% during the 1st quarter. Grey Fox Wealth Advisors LLC now owns 2,052 shares of the exchange traded fund’s stock worth $912,000 after purchasing an additional 1,451 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

(Get Free Report)

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.

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