Invesco QQQ (NASDAQ:QQQ) Trading Down 2.5% - Time to Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) dropped 2.5% during mid-day trading on Monday . The company traded as low as $432.65 and last traded at $433.04. Approximately 11,462,318 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 36,381,019 shares. The stock had previously closed at $444.10.

Invesco QQQ Stock Up 1.8 %

The firm has a market capitalization of $296.13 billion, a PE ratio of 28.58 and a beta of 1.11. The business's 50-day moving average price is $477.15 and its 200-day moving average price is $500.25.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PayPay Securities Corp raised its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Hoese & Co LLP raised its position in shares of 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 purchasing an additional 20 shares during the period. Institutional investors own 44.58% of the company's stock.

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.