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

Invesco QQQ (NASDAQ:QQQ - Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 46,760,000 shares, a drop 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 currently 1.1 days. Currently, 7.5% of the shares of the company are short sold.

Invesco QQQ Trading Up 2.0 %

QQQ stock traded up $9.24 on Thursday, hitting $463.80. The company had a trading volume of 15,556,969 shares, compared to its average volume of 36,490,243. The stock's 50-day simple moving average is $477.15 and its 200 day simple moving average is $500.25. The stock has a market cap of $296.79 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

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 issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QQQ. GAMMA Investing LLC lifted its holdings in Invesco QQQ by 159.6% in the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock valued at $1,712,000 after purchasing an additional 2,059 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after acquiring an additional 11,351 shares during the period. NRI Wealth Management LC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $28,729,000. Garden State Investment Advisory Services LLC increased its position in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC increased its position in shares of Invesco QQQ by 16.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock worth $23,165,000 after purchasing an additional 6,518 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.