Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $280.72 and traded as low as $276.60. Invesco NASDAQ 100 ETF shares last traded at $279.97, with a volume of 3,667,131 shares changing hands.

Invesco NASDAQ 100 ETF Stock Down 1.2%

The stock has a market cap of $107.39 billion, a price-to-earnings ratio of 25.86 and a beta of 1.24. The stock’s fifty day moving average is $295.60 and its 200-day moving average is $280.72.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management lifted its stake in Invesco NASDAQ 100 ETF by 18,374.3% in the 3rd quarter. Ritholtz Wealth Management now owns 709,597 shares of the company’s stock valued at $216,172,000 after acquiring an additional 705,756 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Invesco NASDAQ 100 ETF by 35.5% during the 1st quarter. Royal Bank of Canada now owns 1,743,076 shares of the company’s stock worth $414,189,000 after acquiring an additional 456,274 shares in the last quarter. Japan Science & Technology Agency bought a new position in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $130,019,000. Allianz SE bought a new position in shares of Invesco NASDAQ 100 ETF during the 3rd quarter worth approximately $95,083,000. Finally, Private Advisor Group LLC grew its stake in shares of Invesco NASDAQ 100 ETF by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 1,292,124 shares of the company’s stock worth $393,633,000 after acquiring an additional 191,459 shares in the last quarter.

About Invesco NASDAQ 100 ETF

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.