Invesco QQQ (NASDAQ:QQQ) Trading Down 1.9% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares traded down 1.9% during trading on Friday . The stock traded as low as $471.96 and last traded at $472.36. 15,713,338 shares were traded during mid-day trading, a decline of 55% from the average session volume of 34,794,866 shares. The stock had previously closed at $481.62.

Invesco QQQ Stock Performance

The business has a 50 day moving average price of $508.43 and a two-hundred day moving average price of $505.09. The company has a market cap of $295.55 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the business. Stephens Consulting LLC grew its position in shares of Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares during the period. Cardinal Point Capital Management ULC boosted its position in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares in the last quarter. Hoese & Co LLP grew its stake in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after buying an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC raised its stake in Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock valued at $597,000 after buying an additional 20 shares during the last quarter. Hedge funds and other 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.