Invesco QQQ (NASDAQ:QQQ) Trading Down 0.7% - Here's What Happened

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) dropped 0.7% during mid-day trading on Monday . The stock traded as low as $520.19 and last traded at $522.23. Approximately 15,009,571 shares were traded during trading, a decline of 50% from the average daily volume of 30,055,754 shares. The stock had previously closed at $526.08.

Invesco QQQ Price Performance

The company has a market capitalization of $327.29 billion, a PE ratio of 33.43 and a beta of 1.09. The stock has a 50-day simple moving average of $522.57 and a 200 day simple moving average of $502.54.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC increased its stake in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC grew 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 last quarter. NWI Management LP lifted its position in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of Invesco QQQ during the fourth quarter valued at $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 1,337.4% during the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after acquiring an additional 895,277 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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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