Invesco QQQ (NASDAQ:QQQ) Trading Down 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s share price dropped 0.2% during trading on Monday . The stock traded as low as $478.96 and last traded at $478.74. Approximately 10,235,429 shares were traded during trading, a decline of 71% from the average daily volume of 34,821,744 shares. The stock had previously closed at $479.66.

Invesco QQQ Price Performance

The stock’s fifty day moving average is $514.89 and its 200-day moving average is $504.08. The stock has a market capitalization of $305.15 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently bought and sold shares of QQQ. Proficio Capital Partners LLC raised its stake in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares during the period. Toronto Dominion Bank grew its stake in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after buying an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after acquiring an additional 27,115 shares in 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.