Invesco Top QQQ ETF (NASDAQ:QBIG) Stock Price Down 1% – Here’s Why

Invesco Top QQQ ETF (NASDAQ:QBIG)’s share price dropped 1% on Thursday . The stock traded as low as $38.90 and last traded at $39.32. Approximately 43,023 shares traded hands during mid-day trading, an increase of 173% from the average daily volume of 15,769 shares. The stock had previously closed at $39.71.

Invesco Top QQQ ETF Stock Down 2.8%

The firm’s 50-day simple moving average is $38.85 and its 200-day simple moving average is $35.84. The firm has a market capitalization of $40.18 million, a PE ratio of 36.25 and a beta of 1.59.

Hedge Funds Weigh In On Invesco Top QQQ ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in Invesco Top QQQ ETF in the third quarter valued at approximately $648,000. Bank of America Corp DE increased its stake in shares of Invesco Top QQQ ETF by 3,833.0% in the second quarter. Bank of America Corp DE now owns 3,933 shares of the company’s stock worth $129,000 after buying an additional 3,833 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Invesco Top QQQ ETF by 10.0% in the second quarter. Jane Street Group LLC now owns 21,705 shares of the company’s stock worth $709,000 after buying an additional 1,975 shares during the period.

About Invesco Top QQQ ETF

The Invesco Top QQQ ETF (QBIG) is an exchange-traded fund that mostly invests in large cap equity. The fund aims to provide exposure to the top 45% of the Nasdaq-100 based on market cap. This is achieved through direct equity investment and utilizing total return swaps on the equities. QBIG was launched on Dec 4, 2024 and is issued by Invesco.