Invesco QQQ (NASDAQ:QQQ) Trading Down 0.1% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) shares traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $497.14 and last traded at $499.71. 6,275,693 shares were traded during trading, a decline of 84% from the average session volume of 38,061,281 shares. The stock had previously closed at $500.02.

Invesco QQQ Price Performance

The company’s 50-day moving average is $490.25 and its 200 day moving average is $475.35.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

A number of large investors have recently made changes to their positions in QQQ. Westwood Holdings Group Inc. raised its stake in shares of Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the last quarter. Socha Financial Group LLC raised its position 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 buying an additional 2,171 shares during the last quarter. Archer Investment Corp lifted its stake 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 valued at $21,281,000 after acquiring an additional 4,025 shares during the period. Bank Hapoalim BM boosted its holdings in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp boosted its holdings in shares of Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock valued at $68,997,000 after acquiring an additional 9,516 shares during the last quarter. 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.