Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2%

Invesco QQQ (NASDAQ:QQQGet Free Report)’s stock price was down 0.2% during trading on Friday . The stock traded as low as $478.67 and last traded at $480.59. Approximately 9,947,465 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 41,264,848 shares. The stock had previously closed at $481.47.

Invesco QQQ Price Performance

The company’s 50 day moving average is $449.49 and its 200 day moving average is $433.51.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in Invesco QQQ by 14.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,217 shares of the exchange traded fund’s stock valued at $794,000 after acquiring an additional 273 shares during the period. Brasada Capital Management LP lifted its position in shares of Invesco QQQ by 131.1% during the third quarter. Brasada Capital Management LP now owns 1,186 shares of the exchange traded fund’s stock valued at $435,000 after purchasing an additional 5,000 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Invesco QQQ by 26.9% during the third quarter. Natixis Advisors L.P. now owns 16,118 shares of the exchange traded fund’s stock valued at $5,775,000 after purchasing an additional 3,418 shares in the last quarter. Cadence Bank lifted its position in shares of Invesco QQQ by 2.5% during the third quarter. Cadence Bank now owns 4,124 shares of the exchange traded fund’s stock valued at $1,478,000 after purchasing an additional 100 shares in the last quarter. Finally, Wright Fund Management LLC raised its position in Invesco QQQ by 4.6% in the third quarter. Wright Fund Management LLC now owns 57,089 shares of the exchange traded fund’s stock worth $20,453,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

(Get Free Report)

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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