Invesco QQQ (NASDAQ:QQQ) Trading Down 1.6% – What’s Next?

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

Invesco QQQ Stock Up 0.8 %

The stock has a market capitalization of $299.86 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. The stock’s 50-day simple moving average is $506.34 and its 200 day simple moving average is $505.30.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors have recently bought and sold shares of QQQ. Proficio Capital Partners LLC raised its holdings in shares of Invesco QQQ by 51,292.3% in the fourth 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 during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. NWI Management LP lifted its position in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC increased its holdings in shares of Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after purchasing an additional 895,277 shares in the last quarter. Institutional investors 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.