Invesco QQQ (NASDAQ:QQQ) Shares Down 0.5% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ)’s share price traded down 0.5% during mid-day trading on Tuesday . The stock traded as low as $534.13 and last traded at $535.46. 9,116,735 shares traded hands during trading, a decline of 75% from the average session volume of 37,065,363 shares. The stock had previously closed at $538.17.

Invesco QQQ Price Performance

The firm’s 50 day moving average price is $504.91 and its two-hundred day moving average price is $484.76.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Trading of Invesco QQQ

Several hedge funds have recently bought and sold shares of the business. Socha Financial Group LLC boosted its holdings in Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its holdings in Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock worth $15,169,000 after acquiring an additional 3,581 shares during the last quarter. Archer Investment Corp boosted its holdings in Invesco QQQ by 10.2% during the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares during the last quarter. Bank Hapoalim BM boosted its holdings in Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Finally, Marco Investment Management LLC boosted its holdings in Invesco QQQ by 48.1% during the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock worth $4,696,000 after acquiring an additional 3,123 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.