Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2.5%

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price traded down 2.5% on Wednesday . The stock traded as low as $468.42 and last traded at $468.83. 15,425,724 shares traded hands during trading, a decline of 61% from the average session volume of 39,966,336 shares. The stock had previously closed at $480.62.

Invesco QQQ Stock Performance

The company has a 50 day simple moving average of $474.34 and a two-hundred day simple moving average of $446.92.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.66%.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund's stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund's stock worth $409,513,000 after buying an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $304,591,000. 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.