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

Invesco QQQ (NASDAQ:QQQ)’s stock price traded down 0.1% on Tuesday . The company traded as low as $497.14 and last traded at $499.71. 6,275,693 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 38,061,281 shares. The stock had previously closed at $500.02.

Invesco QQQ Trading Up 0.6 %

The company’s fifty day simple moving average is $490.25 and its 200-day simple moving average is $475.35.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $40,000. CGC Financial Services LLC boosted its position in shares of Invesco QQQ by 736.4% in 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, PFG Private Wealth Management LLC grew its stake in Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

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.