Invesco QQQ (NASDAQ:QQQ) Trading Down 0.4%

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 0.4% during mid-day trading on Tuesday . The company traded as low as $430.70 and last traded at $431.08. Approximately 7,769,193 shares traded hands during trading, a decline of 83% from the average daily volume of 45,472,480 shares. The stock had previously closed at $432.75.

Invesco QQQ Price Performance

The firm has a 50-day moving average price of $436.92 and a 200 day moving average price of $411.12.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QQQ. International Assets Investment Management LLC grew its position in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $1,580,776,000. CHURCHILL MANAGEMENT Corp lifted its stake in Invesco QQQ by 30.7% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after purchasing an additional 433,317 shares during the last quarter. Comerica Bank bought a new stake in shares of Invesco QQQ during the third quarter worth $140,657,000. Finally, Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 47.1% in the 4th quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock valued at $451,075,000 after buying an additional 378,922 shares during the last quarter. Institutional investors and hedge funds 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.