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

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

Invesco QQQ Trading Up 0.1 %

The company's fifty day simple moving average is $507.38 and its 200 day simple moving average is $505.32. The stock has a market capitalization of $297.79 billion, a P/E ratio of 30.05 and a beta of 1.18.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PayPay Securities Corp increased its holdings 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 worth $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ during the 4th quarter valued at approximately $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $37,000. Finally, Hoese & Co LLP increased its stake 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 hedge funds and other 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.