Invesco QQQ (NASDAQ:QQQ) Trading Down 1.1% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) was down 1.1% on Thursday . The stock traded as low as $470.17 and last traded at $471.80. Approximately 12,579,497 shares changed hands during trading, a decline of 64% from the average daily volume of 34,981,981 shares. The stock had previously closed at $476.92.

Invesco QQQ Stock Down 2.1 %

The firm has a market capitalization of $294.35 billion, a PE ratio of 33.43 and a beta of 1.11. The stock has a 50-day simple moving average of $516.50 and a 200-day simple moving average of $503.88.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QQQ. Proficio Capital Partners LLC boosted its holdings 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 worth $5,879,434,000 after buying an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC boosted its holdings 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 period. NWI Management LP grew its position in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $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 4th quarter valued at $679,936,000. Finally, Artemis Wealth Advisors LLC lifted its holdings in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after purchasing an additional 895,277 shares in the last quarter. 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.