Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.7% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0.7% during trading on Monday . The company traded as low as $511.05 and last traded at $518.61. Approximately 16,638,242 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 32,802,813 shares. The stock had previously closed at $522.29.

Invesco QQQ Price Performance

The stock has a 50-day simple moving average of $520.08 and a 200-day simple moving average of $494.82.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Invesco QQQ by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,290 shares of the exchange traded fund’s stock worth $630,000 after buying an additional 230 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of Invesco QQQ by 34.0% during the third quarter. Fulton Bank N.A. now owns 3,992 shares of the exchange traded fund’s stock valued at $1,948,000 after acquiring an additional 1,014 shares during the period. Security National Bank grew its position in shares of Invesco QQQ by 18.6% during the third quarter. Security National Bank now owns 1,372 shares of the exchange traded fund’s stock worth $670,000 after acquiring an additional 215 shares during the last quarter. Threadgill Financial LLC acquired a new stake in shares of Invesco QQQ in the 3rd quarter worth about $472,000. Finally, Greenfield Savings Bank lifted its position in Invesco QQQ by 4.6% in the 3rd quarter. Greenfield Savings Bank now owns 7,081 shares of the exchange traded fund’s stock valued at $3,456,000 after purchasing an additional 311 shares during the last quarter. 44.58% of the stock is currently 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.