Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.7%

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 1.7% on Thursday . The company traded as low as $418.14 and last traded at $419.18. 19,720,467 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 45,696,840 shares. The stock had previously closed at $426.51.

Invesco QQQ Price Performance

The business’s 50-day moving average is $437.07 and its two-hundred day moving average is $409.56.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be given a $0.5735 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.54%.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit X LLC lifted its holdings in Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after acquiring an additional 24 shares during the period. IMA Wealth Inc. raised its stake in shares of Invesco QQQ by 1.3% during the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after buying an additional 25 shares during the last quarter. S.A. Mason LLC raised its stake in shares of Invesco QQQ by 1.5% during the 4th quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after buying an additional 25 shares during the last quarter. Lauterbach Financial Advisors LLC raised its stake in shares of Invesco QQQ by 0.4% during the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock worth $2,296,000 after buying an additional 25 shares during the last quarter. Finally, Cedrus LLC raised its stake in shares of Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock worth $596,000 after buying an additional 25 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.