Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2.4% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) fell 2.4% on Thursday . The stock traded as low as $584.75 and last traded at $585.67. 115,914,080 shares were traded during mid-day trading, an increase of 139% from the average session volume of 48,477,074 shares. The stock had previously closed at $599.87.

Invesco QQQ Trading Up 0.8%

The business has a 50-day moving average price of $607.15 and a two-hundred day moving average price of $568.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a dividend of $0.694 per share. The ex-dividend date was Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

Institutional Trading of Invesco QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in QQQ. Goodman Advisory Group LLC acquired a new stake in shares of Invesco QQQ in the 3rd quarter valued at $25,000. Shcp LLC bought a new stake in shares of Invesco QQQ during the 3rd quarter worth $27,000. Morgan Dempsey Capital Management LLC acquired a new stake in Invesco QQQ in the second quarter valued at about $30,000. Navigoe LLC grew its position in Invesco QQQ by 300.0% in the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in Invesco QQQ during the third quarter worth about $40,000. Institutional investors own 44.58% of the company’s stock.

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.