Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2%

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 0.2% during trading on Friday . The stock traded as low as $487.92 and last traded at $488.55. 6,498,109 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 39,836,855 shares. The stock had previously closed at $489.47.

Invesco QQQ Trading Down 0.6 %

The stock has a fifty day moving average price of $468.10 and a two-hundred day moving average price of $460.07.

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 paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, September 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ during the first quarter worth approximately $29,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the second quarter worth approximately $30,000. Legacy Bridge LLC boosted its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ during the 4th quarter valued at $35,000. 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.