Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2%

Shares of Invesco QQQ (NASDAQ:QQQ) fell 0.2% during trading on Thursday . The company traded as low as $470.25 and last traded at $470.30. 8,593,396 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 40,152,094 shares. The stock had previously closed at $471.07.

Invesco QQQ Trading Down 2.7 %

The company has a fifty day simple moving average of $475.22 and a 200-day simple moving average of $448.84.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This represents a $3.05 annualized dividend and a dividend yield of 0.66%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in QQQ. International Assets Investment Management LLC increased its stake in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ during the first quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC raised its stake in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Granite Bay Wealth Management LLC lifted its position in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ during the 1st quarter valued at about $304,591,000. 44.58% of the stock is 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.