Invesco QQQ (NASDAQ:QQQ) Shares Down 1.2% – Should You Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) fell 1.2% during mid-day trading on Thursday . The stock traded as low as $491.65 and last traded at $495.77. 16,077,717 shares changed hands during trading, a decline of 54% from the average session volume of 34,841,349 shares. The stock had previously closed at $502.01.

Invesco QQQ Stock Up 0.7 %

The company has a market cap of $309.95 billion, a PE ratio of 33.43 and a beta of 1.11. The stock has a 50-day simple moving average of $518.84 and a 200 day simple moving average of $503.83.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Institutional investors have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. grew its stake in shares of 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 boosted its holdings in 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 valued at $7,553,000 after acquiring an additional 1,854 shares during the period. Harbor Capital Advisors Inc. grew its position in Invesco QQQ by 5.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 589 shares of the exchange traded fund’s stock valued at $287,000 after acquiring an additional 28 shares in the last quarter. Foster & Motley Inc. increased its stake in Invesco QQQ by 8.0% during the third quarter. Foster & Motley Inc. now owns 766 shares of the exchange traded fund’s stock worth $374,000 after purchasing an additional 57 shares during the period. Finally, Graypoint LLC increased its stake in Invesco QQQ by 6.1% during the third quarter. Graypoint LLC now owns 1,744 shares of the exchange traded fund’s stock worth $851,000 after purchasing an additional 101 shares during the period. 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.