Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.9% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) shares fell 0.9% during trading on Wednesday . The stock traded as low as $487.21 and last traded at $489.26. 9,133,632 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 34,779,924 shares. The stock had previously closed at $493.46.

Invesco QQQ Trading Down 1.6 %

The firm’s fifty day moving average is $510.77 and its 200 day moving average is $504.97. The stock has a market cap of $306.06 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors 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.

Institutional Trading of Invesco QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. PayPay Securities Corp grew its stake in shares of Invesco QQQ by 276.9% in the fourth 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 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the 4th quarter worth $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the 4th quarter worth about $37,000. Finally, Hoese & Co LLP raised its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.