Invesco QQQ (NASDAQ:QQQ) Trading Down 3.3% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) dropped 3.3% during trading on Thursday . The company traded as low as $448.27 and last traded at $450.52. Approximately 25,038,633 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 36,628,973 shares. The stock had previously closed at $466.00.

Invesco QQQ Stock Performance

The company has a market cap of $284.94 billion, a P/E ratio of 30.05 and a beta of 1.11. The business’s 50-day moving average price is $493.17 and its 200 day moving average price is $502.94.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC increased its holdings in shares of Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after acquiring an additional 756,990 shares during the period. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after buying an additional 4,105,389 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

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.