Invesco QQQ (NASDAQ:QQQ) Reaches New 52-Week Low – Here’s Why

Invesco QQQ (NASDAQ:QQQ)’s stock price reached a new 52-week low on Monday . The stock traded as low as $402.39 and last traded at $405.93, with a volume of 24044277 shares traded. The stock had previously closed at $422.67.

Invesco QQQ Stock Performance

The stock’s 50 day simple moving average is $501.45 and its 200-day simple moving average is $504.81. The firm has a market cap of $271.29 billion, a price-to-earnings ratio of 30.05 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently announced 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 is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in shares of Invesco QQQ by 7.1% in the first quarter. AdvisorNet Financial Inc now owns 22,429 shares of the exchange traded fund’s stock worth $10,518,000 after acquiring an additional 1,479 shares during the period. Bath Savings Trust Co grew its stake in shares of Invesco QQQ by 10.1% during the 1st quarter. Bath Savings Trust Co now owns 732 shares of the exchange traded fund’s stock worth $343,000 after purchasing an additional 67 shares during the period. Webster Bank N. A. increased its holdings in shares of Invesco QQQ by 29.0% during the 1st quarter. Webster Bank N. A. now owns 16,422 shares of the exchange traded fund’s stock valued at $7,701,000 after purchasing an additional 3,688 shares in the last quarter. First Citizens Financial Corp boosted its holdings in Invesco QQQ by 3.5% during the first quarter. First Citizens Financial Corp now owns 4,416 shares of the exchange traded fund’s stock worth $2,071,000 after buying an additional 150 shares in the last quarter. Finally, Marcum Wealth LLC grew its position in Invesco QQQ by 0.5% during the first quarter. Marcum Wealth LLC now owns 19,661 shares of the exchange traded fund’s stock valued at $9,219,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.