Invesco QQQ (NASDAQ:QQQ) Trading Down 0.4% – Should You Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) fell 0.4% during mid-day trading on Monday . The company traded as low as $514.24 and last traded at $519.48. 20,242,417 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 36,756,018 shares. The stock had previously closed at $521.51.

Invesco QQQ Stock Performance

The company has a 50 day simple moving average of $470.91 and a two-hundred day simple moving average of $500.15. The firm has a market cap of $326.91 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after buying an additional 11,351 shares in the last quarter. Wealth Group Ltd. lifted its position in Invesco QQQ by 6.9% in the fourth quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock valued at $810,000 after buying an additional 102 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Invesco QQQ during the fourth quarter valued at about $4,904,000. Capital & Planning LLC increased its holdings in Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock valued at $2,477,000 after purchasing an additional 229 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $69,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.