Invesco QQQ (NASDAQ:QQQ) Trading Down 1.9% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ)’s share price fell 1.9% during mid-day trading on Thursday . The stock traded as low as $486.46 and last traded at $487.01. 10,059,420 shares were traded during trading, a decline of 74% from the average session volume of 38,512,809 shares. The stock had previously closed at $496.38.

Invesco QQQ Trading Down 2.4 %

The business’s fifty day moving average price is $481.47 and its 200 day moving average price is $468.04.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Invesco QQQ during the 1st quarter valued at about $39,478,000. WFA Asset Management Corp raised its stake in Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares during the period. Mainsail Financial Group LLC boosted its holdings in shares of Invesco QQQ by 3.2% in the 1st quarter. Mainsail Financial Group LLC now owns 4,983 shares of the exchange traded fund’s stock valued at $2,213,000 after purchasing an additional 156 shares during the last quarter. Massachusetts Wealth Management grew its stake in shares of Invesco QQQ by 1.5% during the 1st quarter. Massachusetts Wealth Management now owns 4,314 shares of the exchange traded fund’s stock valued at $1,915,000 after buying an additional 65 shares during the period. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of Invesco QQQ by 4.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 36,468 shares of the exchange traded fund’s stock worth $16,192,000 after buying an additional 1,444 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.