Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.4% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) shares fell 0.4% on Friday . The stock traded as low as $502.78 and last traded at $503.12. 5,452,297 shares traded hands during trading, a decline of 86% from the average session volume of 37,945,020 shares. The stock had previously closed at $504.98.

Invesco QQQ Stock Performance

The stock has a 50 day simple moving average of $493.08 and a two-hundred day simple moving average of $476.93.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 23rd.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ during the 1st quarter worth approximately $40,000. CGC Financial Services LLC raised its stake in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC lifted its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.