Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1% – What’s Next?

Invesco QQQ (NASDAQ:QQQ)’s stock price fell 1% during mid-day trading on Monday . The stock traded as low as $499.70 and last traded at $502.22. 11,743,353 shares changed hands during trading, a decline of 63% from the average session volume of 31,326,307 shares. The stock had previously closed at $507.19.

Invesco QQQ Price Performance

The stock has a 50-day simple moving average of $514.92 and a 200 day simple moving average of $491.12.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eastern Bank raised its holdings in Invesco QQQ by 1.9% in the fourth quarter. Eastern Bank now owns 13,845 shares of the exchange traded fund’s stock worth $7,078,000 after purchasing an additional 258 shares during the period. Consilio Wealth Advisors LLC increased its position in shares of Invesco QQQ by 0.6% in the 4th quarter. Consilio Wealth Advisors LLC now owns 34,274 shares of the exchange traded fund’s stock valued at $17,522,000 after buying an additional 212 shares in the last quarter. Claro Advisors LLC raised its stake in Invesco QQQ by 1.6% during the 4th quarter. Claro Advisors LLC now owns 24,873 shares of the exchange traded fund’s stock worth $12,716,000 after buying an additional 381 shares during the period. Abound Wealth Management lifted its holdings in Invesco QQQ by 1.8% during the fourth quarter. Abound Wealth Management now owns 2,848 shares of the exchange traded fund’s stock worth $1,456,000 after acquiring an additional 50 shares in the last quarter. Finally, Accelerate Investment Advisors LLC acquired a new position in Invesco QQQ in the fourth quarter valued at about $246,000. 44.58% of the stock is currently owned by institutional investors.

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.