Invesco QQQ (NASDAQ:QQQ) Trading Down 0.3% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price dropped 0.3% during mid-day trading on Wednesday . The stock traded as low as $520.62 and last traded at $522.85. Approximately 8,026,879 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 32,669,242 shares. The stock had previously closed at $524.47.

Invesco QQQ Trading Down 1.3 %

The stock’s 50 day moving average is $521.00 and its 200 day moving average is $495.29.

Invesco QQQ Dividend Announcement

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

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the business. PayPay Securities Corp boosted its position in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth about $37,000. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $51,000. Finally, Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.