Invesco QQQ (NASDAQ:QQQ) Shares Down 0.6% - What's Next?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) was down 0.6% during mid-day trading on Monday . The stock traded as low as $470.26 and last traded at $469.55. Approximately 11,093,910 shares traded hands during trading, a decline of 69% from the average daily volume of 36,365,029 shares. The stock had previously closed at $472.56.

Invesco QQQ Trading Down 0.8 %

The firm has a 50 day moving average price of $474.40 and a 200 day moving average price of $500.13. The stock has a market capitalization of $296.97 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently modified their holdings of QQQ. Proficio Capital Partners LLC grew its position in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in 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 valued at $2,103,184,000 after buying an additional 4,105,389 shares during the period. NWI Management LP lifted its position in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Finally, Senator Investment Group LP bought a new stake in shares of Invesco QQQ in the 4th quarter worth about $679,936,000. 44.58% of the stock is currently owned by institutional investors.

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.

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