Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Sees Significant Decline in Short Interest

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,460,000 shares, a drop of 24.4% from the April 30th total of 1,930,000 shares. Based on an average daily trading volume, of 3,305,400 shares, the short-interest ratio is currently 0.4 days. Approximately 0.7% of the company’s shares are sold short.

Invesco NASDAQ 100 ETF Stock Performance

NASDAQ:QQQM traded up $1.30 on Tuesday, reaching $216.73. The company’s stock had a trading volume of 729,694 shares, compared to its average volume of 2,288,071. The firm has a market cap of $46.24 billion, a PE ratio of 30.65 and a beta of 1.18. The business’s 50-day moving average price is $197.15 and its two-hundred day moving average price is $206.33. Invesco NASDAQ 100 ETF has a 1-year low of $165.72 and a 1-year high of $222.64.

Invesco NASDAQ 100 ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were given a dividend of $0.3176 per share. This is a positive change from Invesco NASDAQ 100 ETF’s previous dividend of $0.31. The ex-dividend date of this dividend was Monday, March 24th.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC lifted its stake in Invesco NASDAQ 100 ETF by 793.0% in the fourth quarter. Apollon Wealth Management LLC now owns 76,129 shares of the company’s stock valued at $16,021,000 after purchasing an additional 67,604 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Invesco NASDAQ 100 ETF during the fourth quarter valued at approximately $420,000. Proficio Capital Partners LLC bought a new stake in Invesco NASDAQ 100 ETF during the fourth quarter valued at about $6,882,000. HighTower Advisors LLC boosted its stake in Invesco NASDAQ 100 ETF by 1.3% in the 4th quarter. HighTower Advisors LLC now owns 45,980 shares of the company’s stock worth $9,676,000 after purchasing an additional 587 shares during the period. Finally, Wells Fargo & Company MN raised its position in Invesco NASDAQ 100 ETF by 1,271.5% during the fourth quarter. Wells Fargo & Company MN now owns 34,369 shares of the company’s stock valued at $7,233,000 after purchasing an additional 31,863 shares during the period.

Invesco NASDAQ 100 ETF Company Profile

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.