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

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

Invesco QQQ Stock Performance

The firm’s fifty day moving average is $491.83 and its 200 day moving average is $476.02.

Invesco QQQ Cuts Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. increased its position in Invesco QQQ by 14.1% during the 1st 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 in the last quarter. Socha Financial Group LLC boosted its stake in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the last quarter. Archer Investment Corp boosted its stake in shares of Invesco QQQ by 10.2% in the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after purchasing an additional 4,025 shares during the last quarter. Bank Hapoalim BM boosted its stake 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 purchasing an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp boosted its stake in Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after acquiring an additional 9,516 shares in 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.