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

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

Invesco QQQ Stock Performance

The stock has a market cap of $297.23 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The business has a 50-day simple moving average of $517.19 and a two-hundred day simple moving average of $504.07.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC boosted its holdings in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Invesco QQQ by 13.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the period. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.