Invesco QQQ (NASDAQ:QQQ) Sees Large Decline in Short Interest

Invesco QQQ (NASDAQ:QQQ - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 46,760,000 shares, a decline of 14.7% from the March 15th total of 54,790,000 shares. Based on an average daily volume of 44,004,700 shares, the days-to-cover ratio is presently 1.1 days. Approximately 7.5% of the shares of the company are short sold.

Invesco QQQ Stock Up 1.1 %

NASDAQ QQQ traded up $5.21 during trading hours on Friday, hitting $472.56. The company had a trading volume of 38,391,377 shares, compared to its average volume of 36,566,505. The business has a fifty day simple moving average of $475.73 and a 200-day simple moving average of $500.14. The firm has a market cap of $302.39 billion, a P/E ratio of 28.58 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders 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

Institutional investors have recently added to or reduced their stakes in the company. PayPay Securities Corp increased its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the fourth quarter valued at $36,000. Roxbury Financial LLC acquired a new stake in Invesco QQQ during the 4th quarter worth about $37,000. Finally, Hoese & Co LLP grew its stake in 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 acquiring an additional 20 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.