Invesco QQQ (NASDAQ:QQQ) Trading Down 0.5% – Here’s Why

Invesco QQQ (NASDAQ:QQQ) fell 0.5% during trading on Tuesday . The company traded as low as $518.07 and last traded at $519.38. 11,542,991 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 36,786,175 shares. The stock had previously closed at $522.01.

Invesco QQQ Stock Performance

The company has a market cap of $325.67 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The business’s 50 day moving average price is $471.81 and its 200-day moving average price is $500.39.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. 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 buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter valued at about $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth approximately $37,000. Finally, Hoese & Co LLP grew its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares in the last quarter. 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.