Invesco QQQ (NASDAQ:QQQ) Trading Down 4.9% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 4.9% on Thursday . The stock traded as low as $452.47 and last traded at $452.67. 25,583,243 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 35,149,183 shares. The stock had previously closed at $476.15.

Invesco QQQ Stock Performance

The business’s fifty day simple moving average is $505.23 and its 200-day simple moving average is $505.09. The firm has a market capitalization of $285.88 billion, a PE ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. PayPay Securities Corp increased its stake in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter valued at $36,000. Roxbury Financial LLC bought a new position in Invesco QQQ during the fourth quarter valued at $37,000. Finally, Hoese & Co LLP grew its stake in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.