Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.6% – Here’s Why

Shares of Invesco QQQ (NASDAQ:QQQ) were down 1.6% during trading on Monday . The company traded as low as $457.33 and last traded at $461.54. Approximately 17,206,387 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 35,008,158 shares. The stock had previously closed at $468.94.

Invesco QQQ Trading Up 0.8 %

The stock has a market capitalization of $299.86 billion, a P/E ratio of 30.05 and a beta of 1.18. The company has a fifty day simple moving average of $506.34 and a two-hundred day simple moving average of $505.30.

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 issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Institutional Trading of Invesco QQQ

A number of institutional investors have recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its position in shares of 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 worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares during the period. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. 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.