Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.4% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQGet Free Report) dropped 1.4% on Tuesday . The company traded as low as $559.53 and last traded at $562.15. Approximately 25,190,463 shares changed hands during trading, a decline of 44% from the average daily volume of 44,810,664 shares. The stock had previously closed at $570.40.

Invesco QQQ Price Performance

The company has a 50-day simple moving average of $563.01 and a 200-day simple moving average of $517.40.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently added to or reduced their stakes in the stock. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $1,018,000. Sentinus LLC lifted its holdings in Invesco QQQ by 17.6% during the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock worth $3,307,000 after buying an additional 970 shares in the last quarter. Sendero Wealth Management LLC bought a new position in Invesco QQQ in the 1st quarter valued at $273,000. Cary Street Partners Financial LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $10,052,000. Finally, Griffith & Werner Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $583,000. Institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

(Get 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 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.

Recommended Stories

Receive News & Ratings for Invesco QQQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ and related companies with MarketBeat.com's FREE daily email newsletter.