Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.8% – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQ) dropped 1.8% during trading on Friday . The company traded as low as $503.92 and last traded at $505.80. Approximately 16,988,482 shares traded hands during trading, a decline of 45% from the average daily volume of 30,630,738 shares. The stock had previously closed at $515.27.

Invesco QQQ Trading Down 1.5 %

The firm’s fifty day moving average price is $514.92 and its 200-day moving average price is $491.05.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares in the last quarter. BNP Paribas acquired a new stake in shares of Invesco QQQ during the third quarter worth approximately $62,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after acquiring an additional 63 shares during the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Invesco QQQ in the 2nd quarter worth approximately $76,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Invesco QQQ during the 3rd quarter valued at $91,000. Institutional investors and hedge funds 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.