Invesco QQQ (NASDAQ:QQQ) Shares Down 1.7%

Invesco QQQ (NASDAQ:QQQ)’s share price was down 1.7% during trading on Thursday . The stock traded as low as $418.14 and last traded at $419.18. Approximately 19,720,467 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 45,696,840 shares. The stock had previously closed at $426.51.

Invesco QQQ Price Performance

The company has a 50-day simple moving average of $436.88 and a 200 day simple moving average of $410.11.

Invesco QQQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, March 18th.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in QQQ. White Pine Investment CO boosted its position in Invesco QQQ by 4.1% during the first quarter. White Pine Investment CO now owns 10,774 shares of the exchange traded fund’s stock valued at $4,784,000 after purchasing an additional 425 shares in the last quarter. Tenon Financial LLC purchased a new position in shares of Invesco QQQ in the first quarter worth about $338,000. Caas Capital Management LP raised its stake in shares of Invesco QQQ by 867.7% in the first quarter. Caas Capital Management LP now owns 30,000 shares of the exchange traded fund’s stock worth $13,320,000 after purchasing an additional 26,900 shares during the last quarter. McCollum Christoferson Group LLC grew its holdings in Invesco QQQ by 51.0% during the first quarter. McCollum Christoferson Group LLC now owns 1,540 shares of the exchange traded fund’s stock worth $684,000 after acquiring an additional 520 shares during the period. Finally, BayBridge Capital Group LLC grew its holdings in Invesco QQQ by 2.6% during the first quarter. BayBridge Capital Group LLC now owns 6,730 shares of the exchange traded fund’s stock worth $2,818,000 after acquiring an additional 171 shares during the period. 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.