Invesco QQQ (NASDAQ:QQQ) Stock Price Down 3.1% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares were down 3.1% during trading on Monday . The company traded as low as $474.72 and last traded at $476.57. Approximately 18,714,329 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 34,793,754 shares. The stock had previously closed at $491.79.

Invesco QQQ Stock Performance

The stock’s 50-day moving average is $517.19 and its 200 day moving average is $504.07. The firm has a market cap of $297.23 billion, a P/E ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently modified their holdings of the business. Stephens Consulting LLC lifted its stake in Invesco QQQ by 0.4% in the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after buying an additional 19 shares in the last quarter. Planning Capital Management Corp lifted its position in Invesco QQQ by 7.1% in the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after acquiring an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC boosted its stake in 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 during the period. Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during the 4th 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. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Invesco QQQ by 1.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after purchasing an additional 20 shares during the period. 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.