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

Invesco QQQ (NASDAQ:QQQ) shares traded down 0.4% during trading on Friday . The stock traded as low as $472.91 and last traded at $477.21. 10,796,239 shares were traded during trading, a decline of 69% from the average session volume of 34,776,558 shares. The stock had previously closed at $479.26.

Invesco QQQ Price Performance

The company has a market cap of $301.56 billion, a PE ratio of 30.74 and a beta of 1.11. The stock has a 50 day simple moving average of $511.83 and a two-hundred day simple moving average of $503.82.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Nestegg Advisors Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $247,000. M1 Capital Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $7,802,000. Northeast Planning Associates INC. NH acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $589,000. DSG Capital Advisors LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $7,087,000. Finally, Chancellor Financial Group WB LP purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $332,000. 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.