Invesco QQQ (NASDAQ:QQQ) Stock Price Down 4.9% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) dropped 4.9% on Thursday . The stock traded as low as $452.47 and last traded at $452.67. Approximately 25,583,243 shares traded hands during trading, a decline of 27% from the average daily volume of 35,149,183 shares. The stock had previously closed at $476.15.

Invesco QQQ Price Performance

The firm has a market capitalization of $285.88 billion, a PE ratio of 30.05 and a beta of 1.18. The business has a 50-day simple moving average of $505.23 and a 200-day simple moving average of $505.09.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its position 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 purchasing an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Invesco QQQ by 47,853.9% during the 4th 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 boosted its holdings in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after acquiring an additional 3,648,000 shares during the period. Senator Investment Group LP bought a new position in Invesco QQQ in the 4th quarter valued at $679,936,000. Finally, Artemis Wealth Advisors LLC increased its stake in 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 worth $423,470,000 after purchasing an additional 895,277 shares during the period. Hedge funds and other 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.