Invesco QQQ (NASDAQ:QQQ) Trading Down 0% – Here’s Why

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

Invesco QQQ Trading Down 0.7 %

The firm’s 50-day simple moving average is $487.42 and its 200 day simple moving average is $473.42.

Invesco QQQ Cuts Dividend

The business also recently announced 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 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

Several hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the 1st quarter worth about $40,000. CGC Financial Services LLC boosted its position in Invesco QQQ by 736.4% during the second 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 during the period. Finally, PFG Private Wealth Management LLC raised its position in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.