Invesco QQQ (NASDAQ:QQQ) Shares Down 0.2% - Should You Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price was down 0.2% during trading on Wednesday . The company traded as low as $481.18 and last traded at $480.47. Approximately 7,364,991 shares traded hands during trading, a decline of 80% from the average daily volume of 36,262,031 shares. The stock had previously closed at $481.41.

Invesco QQQ Stock Performance

The company's 50-day moving average price is $468.61 and its 200 day moving average price is $499.45. The stock has a market capitalization of $300.85 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of QQQ. PayPay Securities Corp increased its position in Invesco QQQ by 276.9% during the fourth 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 last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $36,000. Roxbury Financial LLC bought a new position in Invesco QQQ in the 4th quarter worth $37,000. Finally, Hoese & Co LLP lifted its position in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. 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.

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