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

Shares of Invesco QQQ (NASDAQ:QQQ) fell 1.9% during mid-day trading on Friday . The stock traded as low as $471.96 and last traded at $472.36. 15,713,338 shares changed hands during 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 Price Performance

The company has a market capitalization of $295.69 billion, a PE ratio of 30.74 and a beta of 1.11. The stock has a 50-day simple moving average of $509.49 and a 200 day simple moving average of $504.67.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. Proficio Capital Partners LLC lifted its stake in 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 buying an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. increased its position in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Invesco QQQ by 0.9% during the fourth 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 buying an additional 27,115 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.