Invesco QQQ (NASDAQ:QQQ) Shares Down 3%

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 3% on Monday . The company traded as low as $423.84 and last traded at $435.13. Approximately 33,349,828 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 40,604,641 shares. The stock had previously closed at $448.75.

Invesco QQQ Price Performance

The company has a 50 day moving average price of $475.15 and a 200 day moving average price of $449.77.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.70%.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently added to or reduced their stakes in QQQ. Denver PWM LLC grew its position in shares of Invesco QQQ by 9.6% in the 2nd quarter. Denver PWM LLC now owns 3,453 shares of the exchange traded fund’s stock valued at $1,654,000 after purchasing an additional 302 shares during the period. Peterson Wealth Management boosted its position in shares of Invesco QQQ by 6.6% during the second quarter. Peterson Wealth Management now owns 26,949 shares of the exchange traded fund’s stock worth $12,911,000 after buying an additional 1,660 shares during the period. N.E.W. Advisory Services LLC raised its position in Invesco QQQ by 4.3% in the 2nd quarter. N.E.W. Advisory Services LLC now owns 5,822 shares of the exchange traded fund’s stock valued at $2,789,000 after buying an additional 238 shares during the last quarter. Bordeaux Wealth Advisors LLC boosted its holdings in Invesco QQQ by 48.6% during the second quarter. Bordeaux Wealth Advisors LLC now owns 10,599 shares of the exchange traded fund’s stock worth $5,078,000 after purchasing an additional 3,465 shares during the last quarter. Finally, KM Capital Management Ltd. grew its holdings in shares of Invesco QQQ by 0.3% in the 2nd quarter. KM Capital Management Ltd. now owns 23,931 shares of the exchange traded fund’s stock valued at $11,466,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.