Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.9% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) was down 0.9% during trading on Wednesday . The company traded as low as $487.21 and last traded at $489.26. Approximately 9,133,632 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 34,779,924 shares. The stock had previously closed at $493.46.

Invesco QQQ Trading Down 1.6 %

The firm has a 50-day simple moving average of $510.77 and a two-hundred day simple moving average of $504.97. The company has a market capitalization of $306.06 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

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 given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Trading of Invesco QQQ

Several large investors have recently added to or reduced their stakes in QQQ. Proficio Capital Partners LLC increased its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of 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 acquiring an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC raised 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in 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 worth $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

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.