Invesco QQQ (NASDAQ:QQQ) Shares Down 1.2%

Shares of Invesco QQQ (NASDAQ:QQQ) fell 1.2% during trading on Wednesday . The company traded as low as $452.73 and last traded at $452.93. 11,400,764 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 40,222,730 shares. The stock had previously closed at $458.66.

Invesco QQQ Trading Up 1.0 %

The company has a fifty day moving average price of $470.51 and a two-hundred day moving average price of $456.80.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently modified their holdings of QQQ. Newbridge Financial Services Group Inc. grew its stake in shares of Invesco QQQ by 47.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 9,966 shares of the exchange traded fund’s stock valued at $4,775,000 after buying an additional 3,196 shares during the period. Heritage Wealth Management Inc. acquired a new position in Invesco QQQ in the second quarter valued at approximately $290,000. Lazari Capital Management Inc. grew its position in Invesco QQQ by 299.6% in the second quarter. Lazari Capital Management Inc. now owns 5,671 shares of the exchange traded fund’s stock worth $2,717,000 after acquiring an additional 4,252 shares during the period. Creekside Partners acquired a new stake in Invesco QQQ during the second quarter worth $540,000. Finally, NCP Inc. increased its stake in Invesco QQQ by 3.1% during the second quarter. NCP Inc. now owns 6,642 shares of the exchange traded fund’s stock worth $3,182,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.