Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1% – Should You Sell?

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

Invesco QQQ Price Performance

The firm has a 50-day moving average of $513.21 and a 200 day moving average of $490.14.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legacy Bridge LLC lifted its holdings in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas acquired a new stake in Invesco QQQ during the third quarter valued at approximately $62,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after buying an additional 63 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Invesco QQQ in the second quarter worth approximately $76,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Invesco QQQ in the third quarter valued at $91,000. 44.58% of the stock is currently owned by 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.