Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Shares Break Above 50-Day Moving Average – Time to Sell?

Shares of Invesco NASDAQ 100 ETF (NASDAQ:QQQM) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $298.70 and traded as high as $298.97. Invesco NASDAQ 100 ETF shares last traded at $298.71, with a volume of 2,403,086 shares trading hands.

Invesco NASDAQ 100 ETF Price Performance

The firm’s 50 day moving average price is $298.70 and its 200 day moving average price is $279.25. The stock has a market capitalization of $109.96 billion, a P/E ratio of 31.95 and a beta of 1.22.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Invesco NASDAQ 100 ETF by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,557,285 shares of the company’s stock worth $2,289,586,000 after buying an additional 170,070 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco NASDAQ 100 ETF by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,868,368 shares of the company’s stock valued at $1,172,000,000 after acquiring an additional 173,431 shares in the last quarter. Meitav Investment House Ltd. raised its holdings in shares of Invesco NASDAQ 100 ETF by 25.3% during the first quarter. Meitav Investment House Ltd. now owns 2,576,146 shares of the company’s stock valued at $612,143,000 after acquiring an additional 520,102 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Invesco NASDAQ 100 ETF by 5.7% during the first quarter. Cetera Investment Advisers now owns 2,217,040 shares of the company’s stock valued at $526,813,000 after acquiring an additional 120,112 shares in the last quarter. Finally, Vantagepoint Investment Advisers LLC lifted its stake in Invesco NASDAQ 100 ETF by 2.2% in the third quarter. Vantagepoint Investment Advisers LLC now owns 1,958,347 shares of the company’s stock worth $596,591,000 after acquiring an additional 41,883 shares during the period.

Invesco NASDAQ 100 ETF Company Profile

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.