Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.8% - Should You Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s stock price was down 0.8% on Tuesday . The company traded as low as $478.19 and last traded at $482.16. Approximately 10,363,138 shares traded hands during trading, a decline of 71% from the average daily volume of 36,258,293 shares. The stock had previously closed at $485.93.

Invesco QQQ Stock Performance

The stock's fifty day simple moving average is $468.11 and its two-hundred day simple moving average is $499.34. The company has a market cap of $306.39 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently made changes to their positions in the business. Proficio Capital Partners LLC grew its stake 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 buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 47,853.9% in the fourth 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 acquiring an additional 4,105,389 shares in the last quarter. NWI Management LP raised its stake in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC lifted its position in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of Invesco QQQ in the fourth quarter valued at $679,936,000. Institutional investors and hedge funds 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.