Invesco QQQ (NASDAQ:QQQ) Trading Down 0.7% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 0.7% during mid-day trading on Friday . The stock traded as low as $523.68 and last traded at $525.64. 11,830,024 shares changed hands during trading, a decline of 63% from the average session volume of 31,709,592 shares. The stock had previously closed at $529.60.

Invesco QQQ Trading Down 1.2 %

The company has a fifty day simple moving average of $521.00 and a 200-day simple moving average of $495.29.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently made changes to their positions in QQQ. O Connor Financial Group LLC increased its position in Invesco QQQ by 6.2% in the third quarter. O Connor Financial Group LLC now owns 17,065 shares of the exchange traded fund’s stock worth $8,329,000 after purchasing an additional 1,000 shares during the last quarter. Marcum Wealth LLC raised its holdings in Invesco QQQ by 1.7% during the 3rd quarter. Marcum Wealth LLC now owns 18,961 shares of the exchange traded fund’s stock valued at $9,254,000 after buying an additional 308 shares during the period. Wedmont Private Capital raised its holdings in Invesco QQQ by 0.7% during the 3rd quarter. Wedmont Private Capital now owns 18,848 shares of the exchange traded fund’s stock valued at $9,087,000 after buying an additional 140 shares during the period. Sanibel Captiva Trust Company Inc. lifted its position in Invesco QQQ by 11.2% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 5,483 shares of the exchange traded fund’s stock worth $2,676,000 after buying an additional 553 shares during the last quarter. Finally, Patten Group Inc. boosted its stake in Invesco QQQ by 3.3% during the third quarter. Patten Group Inc. now owns 1,539 shares of the exchange traded fund’s stock worth $751,000 after buying an additional 49 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.