Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0% during trading on Tuesday . The stock traded as low as $512.90 and last traded at $513.77. Approximately 5,076,102 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 38,204,531 shares. The stock had previously closed at $513.84.

Invesco QQQ Trading Down 0.7 %

The firm has a fifty day simple moving average of $487.42 and a 200-day simple moving average of $473.42.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.53%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, Legacy Bridge LLC boosted its position in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.