Invesco QQQ (NASDAQ:QQQ - Get Free Report) fell 1.7% during mid-day trading on Wednesday . The stock traded as low as $447.22 and last traded at $450.38. 10,761,539 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 36,609,700 shares. The stock had previously closed at $457.99.
Invesco QQQ Trading Down 0.1 %
The company has a market cap of $284.56 billion, a P/E ratio of 30.05 and a beta of 1.11. The firm's 50 day moving average price is $482.54 and its 200-day moving average price is $501.19.
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 is Monday, March 24th.
Hedge Funds Weigh In On Invesco QQQ
Several hedge funds have recently added to or reduced their stakes in QQQ. GAMMA Investing LLC raised its holdings 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 worth $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. increased its position in shares of 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 stake in Invesco QQQ during the 4th quarter worth $28,729,000. Garden State Investment Advisory Services LLC lifted its holdings in Invesco QQQ by 13.1% during 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. Institutional investors and hedge funds own 44.58% of the company's stock.
About Invesco QQQ
(
Get Free Report)
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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