Invesco QQQ (NASDAQ:QQQ) Trading Down 0.1% – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQ) fell 0.1% during trading on Wednesday . The stock traded as low as $496.64 and last traded at $499.54. 7,965,809 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 38,544,535 shares. The stock had previously closed at $500.16.

Invesco QQQ Stock Performance

The stock’s 50-day moving average is $481.19 and its two-hundred day moving average is $467.84.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, September 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Invesco QQQ in the first quarter worth approximately $39,478,000. Naviter Wealth LLC grew its holdings in Invesco QQQ by 42.6% during the 1st quarter. Naviter Wealth LLC now owns 890 shares of the exchange traded fund’s stock worth $396,000 after acquiring an additional 266 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Invesco QQQ by 8.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 660,856 shares of the exchange traded fund’s stock worth $293,427,000 after acquiring an additional 51,643 shares in the last quarter. WFA Asset Management Corp increased its position in Invesco QQQ by 70.6% during the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares during the period. Finally, Albion Financial Group UT raised its holdings in shares of Invesco QQQ by 0.3% in the 1st quarter. Albion Financial Group UT now owns 21,797 shares of the exchange traded fund’s stock valued at $9,678,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

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.