Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.1%

Invesco QQQ (NASDAQ:QQQ)’s share price dropped 1.1% during trading on Monday . The stock traded as low as $470.11 and last traded at $470.14. Approximately 6,948,808 shares changed hands during trading, a decline of 83% from the average daily volume of 40,234,023 shares. The stock had previously closed at $475.34.

Invesco QQQ Trading Down 0.5 %

The stock’s 50 day simple moving average is $470.09 and its two-hundred day simple moving average is $457.36.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid 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 dividend on an annualized basis and a yield of 0.64%.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors have recently bought and sold shares of the business. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC grew its holdings in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC raised its position in shares of Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth $304,591,000. 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.