Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.2% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) shares dropped 1.2% during trading on Thursday . The company traded as low as $491.65 and last traded at $495.77. Approximately 16,077,717 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 34,841,349 shares. The stock had previously closed at $502.01.

Invesco QQQ Stock Down 2.7 %

The firm has a 50-day moving average of $520.28 and a two-hundred day moving average of $503.86. The company has a market capitalization of $308.01 billion, a PE ratio of 33.43 and a beta of 1.11.

Invesco QQQ Dividend Announcement

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

Institutional Trading of Invesco QQQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC acquired a new position in Invesco QQQ during the fourth quarter worth $37,000. Finally, Hoese & Co LLP boosted its position 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 worth $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.

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.