Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.9% – Here’s What Happened

Invesco QQQ (NASDAQ:QQQ)’s share price was down 1.9% on Friday . The company traded as low as $471.96 and last traded at $472.36. Approximately 15,713,338 shares traded hands during trading, a decline of 55% from the average daily volume of 34,794,866 shares. The stock had previously closed at $481.62.

Invesco QQQ Stock Down 2.6 %

The firm has a market cap of $295.69 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. The firm has a fifty day moving average price of $509.49 and a 200-day moving average price of $504.67.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Proficio Capital Partners LLC increased its position in 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 last quarter. Ameriprise Financial Inc. grew its stake in shares of Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after buying an additional 756,990 shares during the period. Toronto Dominion Bank increased its holdings in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. 44.58% of the stock is currently owned by hedge funds and other 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.