Invesco QQQ (NASDAQ:QQQ) Shares Down 1% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) fell 1% during mid-day trading on Tuesday . The stock traded as low as $516.14 and last traded at $519.15. 11,746,303 shares changed hands during trading, a decline of 57% from the average session volume of 27,542,547 shares. The stock had previously closed at $524.54.

Invesco QQQ Stock Performance

The business’s 50-day moving average price is $513.89 and its two-hundred day moving average price is $490.56.

Invesco QQQ Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in Invesco QQQ by 46,491.6% during 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares during the period. Toronto Dominion Bank raised its stake 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 purchasing an additional 488,815 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Invesco QQQ by 1.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,800,000 shares of the exchange traded fund’s stock valued at $862,398,000 after buying an additional 20,000 shares in the last quarter. 44.58% of the stock is 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.