Invesco QQQ (NASDAQ:QQQ) Shares Down 0.8% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares were down 0.8% on Thursday . The stock traded as low as $497.56 and last traded at $499.35. Approximately 13,817,945 shares traded hands during trading, a decline of 64% from the average daily volume of 37,997,160 shares. The stock had previously closed at $503.17.

Invesco QQQ Trading Up 0.5 %

The company has a 50-day moving average price of $491.83 and a two-hundred day moving average price of $476.02.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QQQ. Westwood Holdings Group Inc. increased its holdings in shares of Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares during the period. Socha Financial Group LLC increased its holdings in shares of Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the period. Archer Investment Corp increased its holdings in shares of Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after purchasing an additional 4,025 shares during the period. Bank Hapoalim BM boosted 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 buying an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp boosted its stake in shares of Invesco QQQ by 7.2% in the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after buying an additional 9,516 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.