Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2% – What’s Next?

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 2% during trading on Tuesday . The stock traded as low as $618.46 and last traded at $619.25. 62,088,323 shares traded hands during trading, an increase of 31% from the average session volume of 47,220,379 shares. The stock had previously closed at $632.08.

Invesco QQQ Trading Down 2.0%

The company’s 50-day moving average price is $597.93 and its 200 day moving average price is $555.92.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were given a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

Institutional Trading of Invesco QQQ

Several institutional investors have recently made changes to their positions in the company. Orgel Wealth Management LLC raised its position in shares of Invesco QQQ by 4.7% during the 3rd quarter. Orgel Wealth Management LLC now owns 382 shares of the exchange traded fund’s stock valued at $229,000 after buying an additional 17 shares during the period. Enclave Advisors LLC increased its holdings in Invesco QQQ by 0.9% in the 3rd quarter. Enclave Advisors LLC now owns 1,831 shares of the exchange traded fund’s stock valued at $1,099,000 after purchasing an additional 17 shares during the last quarter. IFS Advisors LLC increased its holdings in Invesco QQQ by 4.1% in the 3rd quarter. IFS Advisors LLC now owns 431 shares of the exchange traded fund’s stock valued at $259,000 after purchasing an additional 17 shares during the last quarter. Mezzasalma Advisors LLC increased its holdings in Invesco QQQ by 0.5% in the 3rd quarter. Mezzasalma Advisors LLC now owns 3,312 shares of the exchange traded fund’s stock valued at $1,988,000 after purchasing an additional 17 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its holdings in Invesco QQQ by 1.4% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 1,246 shares of the exchange traded fund’s stock valued at $748,000 after purchasing an additional 17 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.