Invesco QQQ (NASDAQ:QQQ) Trading Down 1.6% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares traded down 1.6% during trading on Tuesday . The stock traded as low as $510.39 and last traded at $511.53. 18,136,970 shares were traded during mid-day trading, a decline of 40% from the average session volume of 30,413,697 shares. The stock had previously closed at $519.87.

Invesco QQQ Price Performance

The company has a 50-day moving average of $523.02 and a 200 day moving average of $502.10.

Invesco QQQ Announces Dividend

The business also recently announced 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of QQQ. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. boosted its position in shares of Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock valued at $9,468,000 after buying an additional 11,351 shares during the period. Socha Financial Group LLC grew its stake in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after buying an additional 2,171 shares during the last quarter. NRI Wealth Management LC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $28,729,000. Finally, Garden State Investment Advisory Services LLC lifted its stake in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after acquiring an additional 3,581 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other 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.