Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4% - Here's What Happened

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price fell 0.4% on Friday . The company traded as low as $483.57 and last traded at $486.44. 16,712,921 shares were traded during trading, a decline of 52% from the average session volume of 34,886,826 shares. The stock had previously closed at $488.20.

Invesco QQQ Stock Performance

The stock's fifty day moving average price is $518.84 and its two-hundred day moving average price is $503.99. The company has a market cap of $309.95 billion, a P/E ratio of 33.43 and a beta of 1.11.

Invesco QQQ Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp increased its position in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after acquiring an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $36,000. Roxbury Financial LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $37,000. Finally, Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying an additional 20 shares during the period. 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.