Invesco QQQ (NASDAQ:QQQ) Stock Price Down 2.5% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) fell 2.5% during trading on Monday . The stock traded as low as $432.65 and last traded at $433.04. 11,462,318 shares were traded during trading, a decline of 68% from the average session volume of 36,381,019 shares. The stock had previously closed at $444.10.

Invesco QQQ Trading Down 3.3 %

The business has a 50 day moving average of $482.54 and a two-hundred day moving average of $501.33. The firm has a market cap of $274.19 billion, a P/E ratio of 28.58 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors 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 Investors Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of QQQ. GAMMA Investing LLC grew its holdings in Invesco QQQ by 159.6% in the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock valued at $1,712,000 after buying an additional 2,059 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 11,351 shares during the period. NRI Wealth Management LC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $28,729,000. Garden State Investment Advisory Services LLC increased its holdings in shares of 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 purchasing an additional 3,581 shares during the period. Finally, Silverleafe Capital Partners LLC boosted its stake in shares of 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 buying an additional 6,518 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.