Invesco QQQ (NASDAQ:QQQ) Trading Down 1.6% – Here’s What Happened

Shares of Invesco QQQ (NASDAQ:QQQ) fell 1.6% on Tuesday . The stock traded as low as $487.74 and last traded at $488.95. 25,350,689 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 34,797,086 shares. The stock had previously closed at $497.05.

Invesco QQQ Stock Down 0.3 %

The company has a market capitalization of $312.32 billion, a PE ratio of 33.43 and a beta of 1.11. The company’s 50 day moving average is $521.53 and its two-hundred day moving average is $503.73.

Invesco QQQ Dividend Announcement

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

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds have recently bought and sold shares of the business. PayPay Securities Corp grew its position in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $37,000. Finally, Hoese & Co LLP boosted its stake in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other 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.