Invesco QQQ (NASDAQ:QQQ) Trading Down 2.3%

Invesco QQQ (NASDAQ:QQQ) fell 2.3% on Wednesday . The company traded as low as $484.46 and last traded at $485.17. 14,821,478 shares changed hands during trading, a decline of 63% from the average session volume of 39,891,102 shares. The stock had previously closed at $496.34.

Invesco QQQ Trading Up 0.2 %

The stock’s 50 day simple moving average is $471.99 and its two-hundred day simple moving average is $444.52.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $28,000. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ in the first quarter worth approximately $29,000. Legacy Bridge LLC boosted its holdings in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $35,000. Finally, Red Tortoise LLC boosted its holdings in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the last quarter. 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.