Invesco QQQ (NASDAQ:QQQ) Shares Down 2% – Here’s Why

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

Invesco QQQ Price Performance

The stock has a market cap of $303.08 billion, a P/E ratio of 30.74 and a beta of 1.11. The business’s fifty day moving average price is $512.55 and its 200 day moving average price is $503.99.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after acquiring an additional 2,059 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after acquiring an additional 11,351 shares during the last quarter. NRI Wealth Management LC bought a new position in Invesco QQQ in the 4th quarter valued at approximately $28,729,000. Garden State Investment Advisory Services LLC raised its holdings in Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after buying an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC raised its holdings in Invesco QQQ by 16.8% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock valued at $23,165,000 after buying an additional 6,518 shares during the last quarter. 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.