Invesco QQQ (NASDAQ:QQQ) Trading Down 1% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares traded down 1% on Tuesday . The company traded as low as $516.14 and last traded at $519.15. 11,746,303 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 27,542,547 shares. The stock had previously closed at $524.54.

Invesco QQQ Stock Performance

The business has a 50 day simple moving average of $513.89 and a 200-day simple moving average of $490.56.

Invesco QQQ Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of QQQ. International Assets Investment Management LLC increased its holdings in shares of Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Granite Bay Wealth Management LLC raised its position in shares of Invesco QQQ by 6,215.5% in 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 purchasing an additional 894,532 shares during the period. Toronto Dominion Bank lifted its stake in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Invesco QQQ by 6,880.6% during the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 395,588 shares of the exchange traded fund’s stock worth $189,530,000 after buying an additional 389,921 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after buying an additional 338,494 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.