Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ) traded down 2% during trading on Tuesday . The company traded as low as $473.17 and last traded at $473.26. 11,735,213 shares were traded during mid-day trading, a decline of 66% from the average session volume of 34,853,279 shares. The stock had previously closed at $482.77.

Invesco QQQ Price Performance

The company’s 50 day simple moving average is $514.05 and its two-hundred day simple moving average is $504.16. The company has a market cap of $299.10 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of QQQ. PayPay Securities Corp lifted its holdings in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth $37,000. Finally, Hoese & Co LLP grew its stake in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds 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.