Invesco QQQ (NASDAQ:QQQ) Trading Down 0.1% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 0.1% during trading on Thursday . The stock traded as low as $509.56 and last traded at $511.72. Approximately 5,642,712 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 38,089,418 shares. The stock had previously closed at $512.25.

Invesco QQQ Stock Performance

The stock has a 50 day simple moving average of $487.42 and a 200 day simple moving average of $473.42.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently made changes to their positions in QQQ. Westwood Holdings Group Inc. raised its position in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. Socha Financial Group LLC boosted its position in Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the period. Bank Hapoalim BM grew its stake in shares of Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Arrow Financial Corp raised its stake in shares of Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock valued at $68,997,000 after purchasing an additional 9,516 shares in the last quarter. Finally, SVB Wealth LLC grew its position in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares in the last quarter. 44.58% of the stock is currently owned by 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.