Invesco QQQ (NASDAQ:QQQ) Shares Down 0.1% - Here's What Happened

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price traded down 0.1% during mid-day trading on Friday . The stock traded as low as $517.10 and last traded at $518.93. 15,550,282 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 43,738,129 shares. The stock had previously closed at $519.25.

Invesco QQQ Trading Up 0.4%

The firm has a market capitalization of $326.80 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company's 50 day moving average is $470.91 and its 200-day moving average is $500.03.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 51,292.3% during the fourth 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 during the period. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth $2,775,904,000. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after purchasing an additional 4,105,389 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.