Invesco QQQ (NASDAQ:QQQ) Shares Down 0.4% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 0.4% during mid-day trading on Thursday . The company traded as low as $528.45 and last traded at $529.56. Approximately 6,236,474 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 32,318,842 shares. The stock had previously closed at $531.51.

Invesco QQQ Trading Down 0.6 %

The firm has a fifty day moving average of $517.86 and a 200-day moving average of $493.31.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

A number of institutional investors have recently added to or reduced their stakes in the company. Hoese & Co LLP grew its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares during the last quarter. Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas acquired a new position in shares of Invesco QQQ in the 3rd quarter valued at approximately $62,000. Brooklyn Investment Group bought a new stake in Invesco QQQ during the fourth quarter worth $69,000. Finally, Ritter Daniher Financial Advisory LLC DE boosted its stake in Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after buying an additional 63 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.