Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.1% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) was down 1.1% during trading on Thursday . The company traded as low as $470.17 and last traded at $471.80. Approximately 12,579,497 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 34,981,981 shares. The stock had previously closed at $476.92.

Invesco QQQ Stock Performance

The firm has a market capitalization of $294.35 billion, a P/E ratio of 33.43 and a beta of 1.11. The firm has a 50 day simple moving average of $516.50 and a two-hundred day simple moving average of $503.88.

Invesco QQQ Dividend Announcement

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently modified their holdings of the company. PayPay Securities Corp grew its stake 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 purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ in the fourth quarter worth about $37,000. Finally, Hoese & Co LLP raised its position in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after acquiring an additional 20 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.