Invesco QQQ (NASDAQ:QQQ) Trading Down 1% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ)’s share price traded down 1% on Monday . The stock traded as low as $499.70 and last traded at $502.22. 11,743,353 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 31,326,307 shares. The stock had previously closed at $507.19.

Invesco QQQ Trading Down 0.8 %

The company’s 50-day moving average price is $514.92 and its 200-day moving average price is $491.12.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Trading of Invesco QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in QQQ. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the last quarter. BNP Paribas bought a new position in shares of Invesco QQQ in the 3rd quarter valued at about $62,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 63 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in shares of Invesco QQQ in the 2nd quarter valued at about $76,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Invesco QQQ in the 3rd quarter valued at about $91,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.