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

Invesco QQQ (NASDAQ:QQQ) dropped 0.8% during mid-day trading on Thursday . The stock traded as low as $497.56 and last traded at $499.35. Approximately 13,817,945 shares were traded during 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 Trading Up 0.2 %

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

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the 2nd quarter valued at $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $40,000. CGC Financial Services LLC lifted its position 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 valued at $44,000 after acquiring an additional 81 shares during the last quarter. 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 acquiring an additional 103 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.