Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2.5% - Here's What Happened

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares were down 2.5% during mid-day trading on Monday . The stock traded as low as $432.65 and last traded at $433.04. Approximately 11,462,318 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 36,381,019 shares. The stock had previously closed at $444.10.

Invesco QQQ Price Performance

The business has a 50 day simple moving average of $474.40 and a 200 day simple moving average of $500.03. The company has a market cap of $302.39 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently modified their holdings of the stock. PayPay Securities Corp boosted 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 buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the fourth 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 lifted its position in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after purchasing an additional 20 shares during the period. 44.58% of the stock is 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.