Invesco QQQ (NASDAQ:QQQ) Trading Down 3.1% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) fell 3.1% during trading on Monday . The stock traded as low as $474.72 and last traded at $476.57. 18,714,329 shares traded hands during trading, a decline of 46% from the average session volume of 34,793,754 shares. The stock had previously closed at $491.79.

Invesco QQQ Trading Down 3.9 %

The stock has a 50-day moving average price of $518.84 and a two-hundred day moving average price of $504.14. The stock has a market cap of $297.94 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Institutional Trading of Invesco QQQ

Several large investors have recently made changes to their positions in the business. SOA Wealth Advisors LLC. increased its holdings in Invesco QQQ by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock valued at $8,477,000 after buying an additional 46 shares in the last quarter. Pettinga Financial Advisors LLC raised its stake in shares of Invesco QQQ by 13.6% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock worth $7,553,000 after buying an additional 1,854 shares during the period. CWA Asset Management Group LLC acquired a new stake in Invesco QQQ in the 3rd quarter valued at $2,911,000. Assetmark Inc. lifted its holdings in Invesco QQQ by 2.1% during the third quarter. Assetmark Inc. now owns 26,866 shares of the exchange traded fund’s stock valued at $13,112,000 after purchasing an additional 556 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Invesco QQQ by 20.5% during the third quarter. Proficio Capital Partners LLC now owns 22,378 shares of the exchange traded fund’s stock worth $10,922,000 after purchasing an additional 3,803 shares in 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.