Invesco QQQ (NASDAQ:QQQ) Sets New 12-Month Low – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) hit a new 52-week low during trading on Monday . The company traded as low as $402.39 and last traded at $405.93, with a volume of 24044277 shares changing hands. The stock had previously closed at $422.67.

Invesco QQQ Price Performance

The stock has a market capitalization of $271.29 billion, a PE ratio of 30.05 and a beta of 1.11. The company’s 50 day moving average price is $501.45 and its two-hundred day moving average price is $504.81.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC grew 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after buying an additional 756,990 shares during the period. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Invesco QQQ by 0.9% in the fourth 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 acquiring an additional 27,115 shares during the last quarter. 44.58% of the stock is 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.