Invesco QQQ (NASDAQ:QQQ) Trading Down 0.5% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares traded down 0.5% on Tuesday . The company traded as low as $534.13 and last traded at $535.46. 9,116,735 shares traded hands during trading, a decline of 75% from the average session volume of 37,065,363 shares. The stock had previously closed at $538.17.

Invesco QQQ Trading Down 0.4 %

The business has a fifty day moving average of $506.30 and a 200 day moving average of $485.58.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Northeast Investment Management boosted its holdings in Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the period. Planning Capital Management Corp boosted its stake in shares of Invesco QQQ by 7.1% in the third 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. Skyline Advisors Inc. grew its holdings in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares in the last quarter. Madden Advisory Services Inc. grew its holdings in Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares in the last quarter. Finally, Meridian Management Co. increased its stake in Invesco QQQ by 0.6% during the 3rd quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock worth $1,640,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.