Invesco QQQ (NASDAQ:QQQ) Shares Down 1.6% - Time to Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price was down 1.6% on Tuesday . The company traded as low as $487.74 and last traded at $488.95. Approximately 25,350,689 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 34,797,086 shares. The stock had previously closed at $497.05.

Invesco QQQ Stock Up 0.7 %

The firm has a market cap of $309.95 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The business's fifty day moving average is $518.84 and its two-hundred day moving average is $503.99.

Invesco QQQ Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC increased 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 purchasing an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Toronto Dominion Bank boosted its stake in Invesco QQQ by 13.0% in the third 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 stake in Invesco QQQ by 47,853.9% in the fourth 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 acquiring an additional 4,105,389 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after acquiring 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.