Invesco QQQ Trust (NASDAQ:QQQ) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 45,080,919 shares, a decrease of 20.0% from the January 15th total of 56,319,597 shares. Based on an average daily volume of 39,811,478 shares, the short-interest ratio is currently 1.1 days. Approximately 11.6% of the company’s shares are short sold.
Separately, Bank of America lowered shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.
Institutional investors have recently bought and sold shares of the company. Opera Trading Capital raised its stake in Invesco QQQ Trust by 2,646.2% in the third quarter. Opera Trading Capital now owns 17,850 shares of the exchange traded fund’s stock worth $3,317,000 after buying an additional 17,200 shares in the last quarter. Pettyjohn Wood & White Inc. raised its stake in Invesco QQQ Trust by 2.1% in the third quarter. Pettyjohn Wood & White Inc. now owns 27,458 shares of the exchange traded fund’s stock worth $5,101,000 after buying an additional 575 shares in the last quarter. First Heartland Consultants Inc. raised its stake in Invesco QQQ Trust by 118.7% in the third quarter. First Heartland Consultants Inc. now owns 64,908 shares of the exchange traded fund’s stock worth $12,059,000 after buying an additional 35,235 shares in the last quarter. D.A. Davidson & CO. raised its stake in Invesco QQQ Trust by 3.0% in the third quarter. D.A. Davidson & CO. now owns 72,321 shares of the exchange traded fund’s stock worth $13,437,000 after buying an additional 2,080 shares in the last quarter. Finally, Fluent Financial LLC bought a new position in Invesco QQQ Trust in the third quarter worth about $280,000. Institutional investors own 42.14% of the company’s stock.
Invesco QQQ Trust stock opened at $168.40 on Tuesday. Invesco QQQ Trust has a 1-year low of $143.46 and a 1-year high of $187.53.
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About Invesco QQQ Trust
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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