Invesco QQQ (NASDAQ:QQQ) Shares Down 2% – Should You Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 2% on Tuesday . The company traded as low as $473.17 and last traded at $473.26. 11,735,213 shares changed hands during trading, a decline of 66% from the average session volume of 34,853,279 shares. The stock had previously closed at $482.77.

Invesco QQQ Stock Performance

The firm’s 50-day moving average price is $514.05 and its two-hundred day moving average price is $504.16. The firm has a market cap of $299.10 billion, a PE ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. SOA Wealth Advisors LLC. lifted its position in Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after acquiring an additional 46 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in shares of Invesco QQQ by 13.6% during the third quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock worth $7,553,000 after purchasing an additional 1,854 shares during the period. Thrivent Financial for Lutherans grew its position in Invesco QQQ by 7.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 223,289 shares of the exchange traded fund’s stock valued at $108,981,000 after buying an additional 15,034 shares during the last quarter. TrinityPoint Wealth LLC grew its position in Invesco QQQ by 2.8% in the 3rd quarter. TrinityPoint Wealth LLC now owns 4,454 shares of the exchange traded fund’s stock valued at $2,174,000 after buying an additional 120 shares during the last quarter. Finally, Adaptive Financial Consulting LLC raised its position in Invesco QQQ by 0.3% during the 3rd quarter. Adaptive Financial Consulting LLC now owns 29,946 shares of the exchange traded fund’s stock worth $14,616,000 after buying an additional 83 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.