Invesco QQQ Trust (QQQ) Sees Significant Decrease in Short Interest

Invesco QQQ Trust (NASDAQ:QQQ) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 68,847,950 shares, a drop of 12.9% from the October 15th total of 79,055,767 shares. Based on an average daily trading volume, of 86,211,657 shares, the short-interest ratio is presently 0.8 days. Currently, 17.4% of the company’s stock are short sold.

Separately, Bank of America lowered Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.

NASDAQ QQQ opened at $171.52 on Friday. Invesco QQQ Trust has a fifty-two week low of $150.13 and a fifty-two week high of $187.53.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, September 25th were issued a dividend of $0.3298 per share. The ex-dividend date of this dividend was Monday, September 24th. This represents a $1.32 annualized dividend and a yield of 0.77%.

A number of hedge funds and other institutional investors have recently bought and sold shares of QQQ. Oppenheimer & Co. Inc. increased its stake in shares of Invesco QQQ Trust by 6.5% in the second quarter. Oppenheimer & Co. Inc. now owns 209,072 shares of the exchange traded fund’s stock worth $35,888,000 after purchasing an additional 12,837 shares during the period. North Star Investment Management Corp. increased its stake in Invesco QQQ Trust by 70.1% during the second quarter. North Star Investment Management Corp. now owns 4,942 shares of the exchange traded fund’s stock valued at $848,000 after acquiring an additional 2,036 shares during the period. Sfmg LLC increased its stake in Invesco QQQ Trust by 1.1% during the second quarter. Sfmg LLC now owns 220,820 shares of the exchange traded fund’s stock valued at $37,904,000 after acquiring an additional 2,330 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Invesco QQQ Trust by 7.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,477,438 shares of the exchange traded fund’s stock valued at $253,613,000 after acquiring an additional 101,264 shares during the period. Finally, Sterling Investment Management Inc. increased its stake in Invesco QQQ Trust by 6.0% during the second quarter. Sterling Investment Management Inc. now owns 7,738 shares of the exchange traded fund’s stock valued at $1,328,000 after acquiring an additional 437 shares during the period. Institutional investors own 39.07% of the company’s stock.

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Invesco QQQ Trust 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.

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