Invesco QQQ (NASDAQ:QQQ) Trading Down 3.5% - Here's Why

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) traded down 3.5% on Friday . The company traded as low as $426.10 and last traded at $434.77. 40,197,643 shares changed hands during trading, an increase of 14% from the average session volume of 35,344,259 shares. The stock had previously closed at $450.66.

Invesco QQQ Stock Down 3.7 %

The stock has a market capitalization of $284.55 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11. The stock has a 50 day moving average price of $493.17 and a 200 day moving average price of $502.94.

Invesco QQQ Cuts Dividend

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

Institutional Trading of Invesco QQQ

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Invesco QQQ by 159.6% in the fourth 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. increased its position in Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock valued at $9,468,000 after buying an additional 11,351 shares in the last quarter. NRI Wealth Management LC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $28,729,000. Garden State Investment Advisory Services LLC boosted its holdings in Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after acquiring an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC grew its stake in Invesco QQQ by 16.8% in the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock valued at $23,165,000 after acquiring an additional 6,518 shares during the period. 44.58% of the stock is currently 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.