Invesco QQQ (NASDAQ:QQQ) Hits New 12-Month Low - Here's Why

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $402.39 and last traded at $405.93, with a volume of 24044277 shares traded. The stock had previously closed at $422.67.

Invesco QQQ Stock Up 1.8 %

The stock has a market capitalization of $283.95 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The company's fifty day simple moving average is $491.73 and its 200 day simple moving average is $502.66.

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 paid a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Hedge funds have recently bought and sold shares of the stock. Lake Hills Wealth Management LLC increased its stake in shares of Invesco QQQ by 406.1% during the first quarter. Lake Hills Wealth Management LLC now owns 16,738 shares of the exchange traded fund's stock worth $7,849,000 after purchasing an additional 22,207 shares during the period. Joule Financial LLC increased its position in Invesco QQQ by 1.1% during the 1st quarter. Joule Financial LLC now owns 7,553 shares of the exchange traded fund's stock worth $3,542,000 after buying an additional 84 shares during the period. LPF Advisors LLC lifted its holdings in shares of Invesco QQQ by 5.2% during the first quarter. LPF Advisors LLC now owns 27,849 shares of the exchange traded fund's stock worth $13,059,000 after buying an additional 1,367 shares in the last quarter. DKM Wealth Management Inc. boosted its position in shares of Invesco QQQ by 8.3% in the first quarter. DKM Wealth Management Inc. now owns 7,983 shares of the exchange traded fund's stock valued at $3,743,000 after acquiring an additional 609 shares during the period. Finally, Blue Zone Wealth Advisors LLC boosted its position in shares of Invesco QQQ by 5.9% in the first quarter. Blue Zone Wealth Advisors LLC now owns 43,727 shares of the exchange traded fund's stock valued at $20,504,000 after acquiring an additional 2,431 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.