Invesco QQQ (NASDAQ:QQQ) Shares Down 0.8% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ)’s share price was down 0.8% on Thursday . The stock traded as low as $497.56 and last traded at $499.35. Approximately 13,817,945 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 37,997,160 shares. The stock had previously closed at $503.17.

Invesco QQQ Stock Performance

The company has a 50 day simple moving average of $493.08 and a 200 day simple moving average of $476.67.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid 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 Trading of Invesco QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northeast Investment Management grew its holdings in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp grew its holdings in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC grew its holdings in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. grew its holdings in shares of Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares during the last quarter. Finally, Madden Advisory Services Inc. grew its holdings in shares of Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.