Invesco QQQ (NASDAQ:QQQ) Shares Down 0.3% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ)’s stock price was down 0.3% on Wednesday . The company traded as low as $520.62 and last traded at $522.85. Approximately 8,026,879 shares changed hands during trading, a decline of 75% from the average daily volume of 32,669,242 shares. The stock had previously closed at $524.47.

Invesco QQQ Stock Performance

The business’s 50 day moving average price is $520.08 and its 200 day moving average price is $494.82.

Invesco QQQ Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of QQQ. Maripau Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $753,000. Wiser Advisor Group LLC grew its holdings in shares of Invesco QQQ by 8.5% in the 4th quarter. Wiser Advisor Group LLC now owns 589 shares of the exchange traded fund’s stock worth $301,000 after acquiring an additional 46 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in Invesco QQQ by 3.6% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 1,312 shares of the exchange traded fund’s stock valued at $671,000 after acquiring an additional 45 shares during the last quarter. Maple Capital Management Inc. increased its holdings in Invesco QQQ by 31.5% during the 4th quarter. Maple Capital Management Inc. now owns 2,393 shares of the exchange traded fund’s stock valued at $1,223,000 after acquiring an additional 573 shares in the last quarter. Finally, Sims Investment Management LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $5,319,000. Institutional investors and hedge funds 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.