Invesco QQQ (NASDAQ:QQQ) Trading Down 1.7% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQ) were down 1.7% on Friday . The company traded as low as $518.04 and last traded at $520.37. Approximately 10,405,127 shares were traded during trading, a decline of 72% from the average daily volume of 37,058,051 shares. The stock had previously closed at $529.60.

Invesco QQQ Stock Performance

The firm has a 50 day moving average price of $510.64 and a 200-day moving average price of $488.64.

Invesco QQQ Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a $0.8347 dividend. The ex-dividend date is Monday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Legacy Bridge LLC boosted its stake in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas acquired a new position in Invesco QQQ during the third quarter valued at approximately $62,000. Bray Capital Advisors raised its holdings in Invesco QQQ by 78.0% in the second quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 64 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 63 shares in the last quarter. 44.58% of the stock is currently 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.