Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.4% – Here’s Why

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0.4% during trading on Friday . The company traded as low as $483.57 and last traded at $486.44. Approximately 16,712,921 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 34,886,826 shares. The stock had previously closed at $488.20.

Invesco QQQ Stock Performance

The stock’s 50 day simple moving average is $519.46 and its 200-day simple moving average is $503.75. The firm has a market cap of $310.36 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Institutional Trading of Invesco QQQ

Several large investors have recently made changes to their positions in QQQ. Proficio Capital Partners LLC grew its position in shares of Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in 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 in the last quarter. NWI Management LP lifted its stake in Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. Senator Investment Group LP acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its position in Invesco QQQ by 1,337.4% in the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after buying an additional 895,277 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.