Invesco QQQ (NASDAQ:QQQ) Share Price Drops 0.2%

Shares of Invesco QQQ (NASDAQ:QQQ – Get Your Free Report ) were down 0.2% during mid-day trading on Friday. The company traded as high as $487.92 and last traded at $488.55. About 6,498,109 shares were traded during the trading session, down 84% from the average daily volume of 39,836,855 shares. Shares previously closed at $489.47.

Invesco QQQ Price Performance

The company has a 50-day moving average price of $467.87 and a 200-day moving average price of $459.61.

Invesco QQQ cuts dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23. This represents a dividend of $2.71 on an annualized basis and a yield of 0.56%.

Hedge funds influence Invesco QQQ

A number of institutional investors have recently modified their holdings of the company. New Covenant Trust Company NA acquired a new position in Invesco QQQ in the first quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ in the 1st quarter worth $29,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the second quarter valued at $30,000. Legacy Bridge LLC boosted its stake in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ in the fourth quarter worth $35,000. 44.58% of shares are owned by institutional investors and hedge funds.

Invesco QQQ Company Profile

(Get a free report)

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 return performance of the Nasdaq-100 Index. The Trust offers investors the opportunity to purchase units of beneficial interest in the Trust representing undivided proportionate interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weight, as the constituent securities of the Trust. the Nasdaq-100 index.

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