Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4%

Invesco QQQ (NASDAQ:QQQ) was down 0.4% on Wednesday . The stock traded as low as $428.46 and last traded at $429.28. Approximately 12,344,844 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 44,978,902 shares. The stock had previously closed at $431.10.

Invesco QQQ Stock Performance

The stock’s 50 day simple moving average is $438.05 and its 200-day simple moving average is $407.51.

Invesco QQQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be given a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently added to or reduced their stakes in the stock. 180 Wealth Advisors LLC increased its position in Invesco QQQ by 1.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 2,428 shares of the exchange traded fund’s stock worth $870,000 after purchasing an additional 29 shares during the period. Bank Hapoalim BM grew its holdings in Invesco QQQ by 6.3% in the fourth quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock valued at $31,669,000 after purchasing an additional 4,549 shares during the last quarter. Goodwin Daniel L grew its holdings in Invesco QQQ by 76.1% in the third quarter. Goodwin Daniel L now owns 5,775 shares of the exchange traded fund’s stock valued at $2,069,000 after purchasing an additional 2,495 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Invesco QQQ by 6.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock worth $1,530,696,000 after buying an additional 243,305 shares during the last quarter. Finally, VitalStone Financial LLC raised its stake in shares of Invesco QQQ by 302.0% during the 3rd quarter. VitalStone Financial LLC now owns 21,403 shares of the exchange traded fund’s stock worth $8,099,000 after buying an additional 16,079 shares during the last quarter. 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.