Invesco QQQ (NASDAQ:QQQ) Shares Down 1.6% - Should You Sell?

On Tuesday, shares of Invesco QQQ (NASDAQ:QQQ) experienced a decline of 1.6%. At one point, the stock dipped to $487.74 before settling at $488.95 at the end of the trading day. During mid-day trading, approximately 25,350,689 shares exchanged hands, marking a 27% decrease from the average session volume of 34,797,086 shares. The previous closing price for the stock was $497.05.

Overview of Invesco QQQ's Performance

The stock currently holds a market capitalization of $307.69 billion, with a price-to-earnings ratio of 33.43 and a beta of 1.11, indicating some volatility compared to the market. Over the past fifty days, the simple moving average was at $519.46, while the 200-day simple moving average stood at $503.75. These averages can provide insights into potential shifts in the stock's future performance.

Recent Dividend Announcement

Invesco QQQ also announced a dividend that was recently distributed to shareholders. This dividend was paid on December 31st, and those recorded as stockholders by December 23rd received a payout of $0.8347 per share. The ex-dividend date was set for December 23rd, highlighting the company's commitment to returning value to its investors.

Institutional Investor Activity

A number of hedge funds and institutional investors have either increased or decreased their positions in Invesco QQQ. For instance, Copia Wealth Management invested around $326,000 in QQQ in the fourth quarter, while Elite Financial Inc. acquired shares valued at approximately $1,540,000. Arcadia Wealth Management took on new shares worth about $1,488,000, and Wood Tarver Financial Group LLC made a purchase of about $193,000. Additionally, TFR Capital LLC invested $5,745,000 during the same period. Currently, institutional investors and hedge funds control about 44.58% of the stock, which suggests a significant level of interest from larger financial entities.

Company Summary

The PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The Trust aims to provide results that generally align with the price and yield performance of the Nasdaq-100 Index, giving investors a unique opportunity to purchase units that represent beneficial interest in the underlying portfolio of securities.

Should You Invest in Invesco QQQ Now?

For investors considering an investment of $1,000 in Invesco QQQ, it may be crucial to weigh potential alternatives. Current ratings among analysts suggest that Invesco QQQ holds a "Hold" rating. Some top-rated analysts have identified five other stocks they consider better investment opportunities at this time. Investors are encouraged to conduct thorough research before making any decisions regarding their portfolio.

Invesco, QQQ, Stocks, Dividend, Investment