Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.3% – What’s Next?

Invesco QQQ (NASDAQ:QQQ) shares dropped 0.3% on Wednesday . The stock traded as low as $492.57 and last traded at $493.93. Approximately 14,400,886 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 34,878,734 shares. The stock had previously closed at $495.55.

Invesco QQQ Price Performance

The firm has a market capitalization of $316.59 billion, a PE ratio of 33.43 and a beta of 1.11. The company’s fifty day simple moving average is $520.84 and its 200 day simple moving average is $503.87.

Invesco QQQ Dividend Announcement

The business also recently declared 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

A number of large investors have recently added to or reduced their stakes in QQQ. Stephens Consulting LLC lifted its holdings in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after buying an additional 19 shares during the period. Planning Capital Management Corp increased its position in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the period. Cardinal Point Capital Management ULC lifted its position in shares of Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after purchasing an additional 20 shares during the period. Hoese & Co LLP boosted its stake in shares of 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 in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Invesco QQQ by 1.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

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.