Invesco QQQ (NASDAQ:QQQ) Shares Down 1.6% - What's Next?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) fell 1.6% during mid-day trading on Monday . The company traded as low as $457.33 and last traded at $461.54. 17,206,387 shares traded hands during trading, a decline of 51% from the average session volume of 35,008,158 shares. The stock had previously closed at $468.94.

Invesco QQQ Stock Performance

The company has a market cap of $302.05 billion, a price-to-earnings ratio of 30.05 and a beta of 1.18. The company's 50 day moving average price is $506.34 and its 200 day moving average price is $505.30.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QQQ. PayPay Securities Corp boosted its stake in 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 purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the 4th quarter worth about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the 4th quarter worth about $37,000. Finally, Hoese & Co LLP increased its position in Invesco QQQ by 32.3% in 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. Institutional investors own 44.58% of the company's stock.

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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.