Invesco QQQ (NASDAQ:QQQ) Shares Down 0.3% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0.3% on Wednesday . The stock traded as low as $492.57 and last traded at $493.93. Approximately 14,400,886 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 34,878,734 shares. The stock had previously closed at $495.55.

Invesco QQQ Stock Up 1.4 %

The firm has a market cap of $316.59 billion, a P/E ratio of 33.43 and a beta of 1.11. The business has a fifty day simple moving average of $520.84 and a 200-day simple moving average of $503.87.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund’s stock worth $1,712,000 after purchasing an additional 2,059 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Invesco QQQ by 141.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after buying an additional 11,351 shares during the last quarter. Socha Financial Group LLC grew its holdings in shares of Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the period. NRI Wealth Management LC purchased a new stake in Invesco QQQ during the fourth quarter valued at $28,729,000. Finally, Garden State Investment Advisory Services LLC increased its position in Invesco QQQ by 13.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after acquiring an additional 3,581 shares during 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.