Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price dropped 0.4% on Thursday . The stock traded as low as $528.45 and last traded at $529.56. Approximately 6,236,474 shares traded hands during trading, a decline of 81% from the average daily volume of 32,318,842 shares. The stock had previously closed at $531.51.

Invesco QQQ Stock Performance

The company’s fifty day moving average price is $517.86 and its two-hundred day moving average price is $493.31.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cullinan Associates Inc. raised its position in Invesco QQQ by 40.9% in the 4th quarter. Cullinan Associates Inc. now owns 1,043 shares of the exchange traded fund’s stock worth $533,000 after purchasing an additional 303 shares during the last quarter. Tempus Wealth Planning LLC increased its stake in shares of Invesco QQQ by 58.0% in the 4th quarter. Tempus Wealth Planning LLC now owns 13,922 shares of the exchange traded fund’s stock valued at $7,117,000 after buying an additional 5,110 shares during the period. Flavin Financial Services Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter worth $1,905,000. RBA Wealth Management LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $362,000. Finally, Calamos Wealth Management LLC increased its position in Invesco QQQ by 5.3% in the fourth quarter. Calamos Wealth Management LLC now owns 5,365 shares of the exchange traded fund’s stock worth $2,743,000 after purchasing an additional 270 shares during the period. 44.58% of the stock is owned by 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.