Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) shares dropped 0.2% during mid-day trading on Monday . The company traded as low as $478.96 and last traded at $478.74. Approximately 10,235,429 shares traded hands during trading, a decline of 71% from the average daily volume of 34,821,744 shares. The stock had previously closed at $479.66.

Invesco QQQ Stock Performance

The firm’s 50 day simple moving average is $513.24 and its 200 day simple moving average is $504.15. The firm has a market capitalization of $299.08 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently modified their holdings of the stock. PayPay Securities Corp lifted its stake in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $37,000. Finally, Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying 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.