Invesco QQQ (NASDAQ:QQQ) Short Interest Down 14.7% in March

Invesco QQQ (NASDAQ:QQQ) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 46,760,000 shares, a decline of 14.7% from the March 15th total of 54,790,000 shares. Based on an average daily volume of 44,004,700 shares, the days-to-cover ratio is presently 1.1 days. Currently, 7.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC grew 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 buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Invesco QQQ by 47,853.9% during 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. NWI Management LP boosted its stake in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in Invesco QQQ in the 4th quarter valued at $679,936,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $444.48 on Wednesday. The company has a market capitalization of $284.42 billion, a PE ratio of 28.58 and a beta of 1.11. The business has a 50-day moving average of $478.81 and a 200-day moving average of $500.56. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

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

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.