Invesco QQQ (NASDAQ:QQQ) Trading Down 0.3% - Should You Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) dropped 0.3% during trading on Wednesday . The stock traded as low as $492.57 and last traded at $493.93. Approximately 14,400,886 shares were traded during 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 Price Performance

The firm has a market capitalization of $309.95 billion, a PE ratio of 33.43 and a beta of 1.11. The company's fifty day simple moving average is $518.84 and its 200 day simple moving average is $503.99.

Invesco QQQ Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. PayPay Securities Corp increased its position 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 valued at $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter valued at about $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at about $37,000. Finally, Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during 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 period. 44.58% of the stock is currently owned by institutional investors.

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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.