Invesco QQQ (NASDAQ:QQQ) Trading Down 1.2% - Here's What Happened

Key Points

• Invesco QQQ shares decreased by 1.2% on Friday, trading at $570.36 after a low of $569.22, with trading volume down 54% compared to its average.
• The company announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.
• Institutional investors hold 44.58% of Invesco QQQ shares, with significant increases from firms like AQR Capital Management, which raised its stake by 122.6%.

Invesco QQQ (NASDAQ:QQQ - ) dropped 1.2% on Friday . The company traded as low as $569.22 and last traded at $570.36. Approximately 20,364,539 shares were traded during trading, a decline of 54% from the average daily volume of 44,703,809 shares. The stock had previously closed at $577.08.

Invesco QQQ Trading Down 1.1%

The stock's 50 day simple moving average is $561.37 and its two-hundred day simple moving average is $517.09.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Capital Management LLC grew its holdings in shares of Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after buying an additional 185 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $610,000. Finally, AQR Capital Management LLC grew its holdings in shares of Invesco QQQ by 122.6% during the fourth quarter. AQR Capital Management LLC now owns 86,832 shares of the exchange traded fund's stock valued at $44,391,000 after buying an additional 47,821 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Company Profile

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.

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