Invesco QQQ (NASDAQ:QQQ) Trading Down 1.1% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) shares dropped 1.1% on Thursday . The stock traded as low as $470.17 and last traded at $471.80. Approximately 12,579,497 shares traded hands during trading, a decline of 64% from the average daily volume of 34,981,981 shares. The stock had previously closed at $476.92.

Invesco QQQ Stock Up 2.4 %

The stock has a market cap of $302.31 billion, a P/E ratio of 33.43 and a beta of 1.11. The firm’s 50-day moving average is $514.89 and its two-hundred day moving average is $503.66.

Invesco QQQ Dividend Announcement

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

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tableaux LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $228,000. Keystone Financial Services LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $2,888,000. Silver Oak Wealth Advisors Services LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $1,054,000. Northstar Financial Companies Inc. bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $303,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $2,175,000. Institutional investors own 44.58% of the company’s stock.

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.