Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Invesco NASDAQ 100 ETF (NASDAQ:QQQM)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $280.02 and traded as low as $266.52. Invesco NASDAQ 100 ETF shares last traded at $266.75, with a volume of 16,452,002 shares changing hands.

Invesco NASDAQ 100 ETF Stock Down 6.4%

The firm has a market cap of $99.48 billion, a PE ratio of 31.95 and a beta of 1.24. The firm’s 50 day moving average is $297.41 and its 200-day moving average is $280.02.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QQQM. Advisor Resource Council boosted its holdings in Invesco NASDAQ 100 ETF by 2.6% in the 3rd quarter. Advisor Resource Council now owns 4,789 shares of the company’s stock worth $1,491,000 after acquiring an additional 121 shares during the period. Ritholtz Wealth Management raised its stake in shares of Invesco NASDAQ 100 ETF by 18,374.3% during the third quarter. Ritholtz Wealth Management now owns 709,597 shares of the company’s stock valued at $216,172,000 after purchasing an additional 705,756 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Invesco NASDAQ 100 ETF by 24.5% during the third quarter. Jacobi Capital Management LLC now owns 2,811 shares of the company’s stock valued at $856,000 after purchasing an additional 554 shares during the period. International Private Wealth Advisors LLC purchased a new stake in shares of Invesco NASDAQ 100 ETF during the third quarter valued at approximately $227,000. Finally, Northbridge Financial Group LLC lifted its position in shares of Invesco NASDAQ 100 ETF by 18.5% during the third quarter. Northbridge Financial Group LLC now owns 7,338 shares of the company’s stock worth $2,295,000 after purchasing an additional 1,146 shares in the last quarter.

About Invesco NASDAQ 100 ETF

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.