Invesco QQQ (NASDAQ:QQQ) Shares Down 1.9% - Should You Sell?

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) were down 1.9% on Friday . The company traded as low as $471.96 and last traded at $472.36. Approximately 15,713,338 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 34,794,866 shares. The stock had previously closed at $481.62.

Invesco QQQ Price Performance

The stock has a fifty day moving average price of $508.43 and a two-hundred day moving average price of $505.35. The company has a market cap of $295.54 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 51,292.3% in the fourth 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 period. Ameriprise Financial Inc. raised its position in Invesco QQQ by 20.2% in 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 acquiring an additional 756,990 shares in the last quarter. Toronto Dominion Bank lifted 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 acquiring an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Invesco QQQ by 0.9% in 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 during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

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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.