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

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

Invesco QQQ Stock Down 6.2 %

The stock has a market capitalization of $268.12 billion, a P/E ratio of 30.05 and a beta of 1.18. The stock’s 50 day moving average price is $501.45 and its 200-day moving average price is $504.37.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 24th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. PayPay Securities Corp lifted its stake in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $36,000. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $37,000. Finally, Hoese & Co LLP boosted its position in Invesco QQQ by 32.3% in 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. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.