Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2% – Here’s Why

by · The Markets Daily

Invesco QQQ (NASDAQ:QQQ – Get Free Report)’s share price was down 0.2% on Tuesday . The stock traded as low as $491.97 and last traded at $494.64. Approximately 7,738,946 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 38,817,719 shares. The stock had previously closed at $495.42.

Invesco QQQ Stock Performance

The firm has a 50-day simple moving average of $478.57 and a 200 day simple moving average of $465.57.

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 given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently added to or reduced their stakes in QQQ. Guidance Capital Inc. increased its position in shares of Invesco QQQ by 8.0% during the third quarter. Guidance Capital Inc. now owns 6,201 shares of the exchange traded fund’s stock worth $3,066,000 after acquiring an additional 458 shares during the last quarter. Litman Gregory Wealth Management LLC increased its position in shares of Invesco QQQ by 192.2% during the 3rd quarter. Litman Gregory Wealth Management LLC now owns 1,394 shares of the exchange traded fund’s stock valued at $680,000 after purchasing an additional 917 shares during the period. TFG Advisers LLC raised its position in Invesco QQQ by 5.8% in the third quarter. TFG Advisers LLC now owns 1,753 shares of the exchange traded fund’s stock worth $856,000 after acquiring an additional 96 shares in the last quarter. Rye Brook Capital LLC lifted its stake in Invesco QQQ by 17.1% during the third quarter. Rye Brook Capital LLC now owns 20,500 shares of the exchange traded fund’s stock valued at $10,005,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Chris Bulman Inc boosted its position in shares of Invesco QQQ by 25.2% in the 3rd quarter. Chris Bulman Inc now owns 11,831 shares of the exchange traded fund’s stock valued at $5,774,000 after purchasing an additional 2,379 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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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