Invesco QQQ (NASDAQ:QQQ) Shares Down 1.2% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) were down 1.2% during mid-day trading on Thursday . The stock traded as low as $491.65 and last traded at $495.77. Approximately 16,077,717 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 34,841,349 shares. The stock had previously closed at $502.01.

Invesco QQQ Stock Performance

The company has a 50 day simple moving average of $518.84 and a 200 day simple moving average of $503.83. The company has a market capitalization of $309.95 billion, a PE ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QQQ. GAMMA Investing LLC lifted its position in Invesco QQQ by 159.6% during the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after buying an additional 2,059 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after acquiring an additional 11,351 shares during the period. NRI Wealth Management LC acquired a new position in shares of Invesco QQQ during the 4th quarter valued at about $28,729,000. Garden State Investment Advisory Services LLC grew its holdings in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares during the period. Finally, Silverleafe Capital Partners LLC increased its position in Invesco QQQ by 16.8% during the fourth quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund’s stock worth $23,165,000 after purchasing an additional 6,518 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Invesco QQQ

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.