Invesco QQQ (NASDAQ:QQQ) Shares Down 1.6% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) traded down 1.6% during mid-day trading on Monday . The stock traded as low as $457.33 and last traded at $461.54. 17,206,387 shares were traded during mid-day trading, a decline of 51% from the average session volume of 35,008,158 shares. The stock had previously closed at $468.94.

Invesco QQQ Stock Performance

The company’s 50-day moving average price is $508.43 and its 200 day moving average price is $505.35. The stock has a market capitalization of $293.87 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

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

Invesco QQQ Company Profile

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.