Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) dropped 1% during mid-day trading on Monday . The stock traded as low as $499.70 and last traded at $502.22. Approximately 11,743,353 shares traded hands during trading, a decline of 63% from the average daily volume of 31,326,307 shares. The stock had previously closed at $507.19.

Invesco QQQ Stock Performance

The company’s fifty day moving average is $515.57 and its 200-day moving average is $491.47.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Several large investors have recently modified their holdings of the company. Northeast Investment Management boosted its holdings in shares of Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after buying an additional 20 shares during the period. Planning Capital Management Corp boosted its holdings in Invesco QQQ by 7.1% in the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the period. Cardinal Point Capital Management ULC grew its position in Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares during the last quarter. Skyline Advisors Inc. grew its position in Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the last quarter. Finally, Madden Advisory Services Inc. grew its position in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

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.