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

Invesco QQQ (NASDAQ:QQQ) shares traded down 0.5% during mid-day trading on Tuesday . The company 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 Stock Performance

The stock’s fifty day simple moving average is $504.91 and its 200-day simple moving average is $484.76.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC increased its position in shares of Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares during the period. Toronto Dominion Bank increased its position in shares of Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after buying an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. bought a new stake in shares of Invesco QQQ during the second quarter valued at about $215,600,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.