Invesco QQQ (NASDAQ:QQQ) Trading Down 0.9% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price was down 0.9% during mid-day trading on Wednesday . The company traded as low as $487.21 and last traded at $489.26. Approximately 9,133,632 shares traded hands during 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 Stock Down 0.5 %

The stock has a market capitalization of $302.10 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. The stock’s 50-day simple moving average is $509.49 and its 200 day simple moving average is $504.67.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors have recently bought and sold shares of QQQ. SOA Wealth Advisors LLC. lifted its position in Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after buying an additional 46 shares in the last quarter. FMR LLC raised its stake in shares of Invesco QQQ by 1.7% in the third quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock worth $379,751,000 after acquiring an additional 13,338 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Invesco QQQ by 13.7% during the third quarter. Glenmede Trust Co. NA now owns 29,459 shares of the exchange traded fund’s stock worth $14,378,000 after purchasing an additional 3,553 shares in the last quarter. BNP Paribas bought a new stake in shares of Invesco QQQ during the third quarter valued at approximately $62,000. Finally, Fiduciary Trust Co increased its holdings in shares of Invesco QQQ by 4.4% in the third quarter. Fiduciary Trust Co now owns 5,508 shares of the exchange traded fund’s stock valued at $2,688,000 after purchasing an additional 230 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.