Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.2% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ)’s stock price dropped 0.2% on Tuesday . The stock traded as low as $513.37 and last traded at $514.49. Approximately 6,388,648 shares were traded during trading, a decline of 83% from the average daily volume of 37,580,438 shares. The stock had previously closed at $515.29.

Invesco QQQ Stock Up 0.1 %

The company’s 50 day moving average price is $496.13 and its 200-day moving average price is $479.38.

Invesco QQQ Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.52%.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Invesco QQQ by 5.0% during the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock valued at $7,779,000 after buying an additional 832 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Invesco QQQ in the first quarter worth approximately $210,000. Harbor Capital Advisors Inc. bought a new position in Invesco QQQ during the second quarter valued at approximately $269,000. Albion Financial Group UT lifted its stake in Invesco QQQ by 6.0% in the second quarter. Albion Financial Group UT now owns 23,110 shares of the exchange traded fund’s stock valued at $11,072,000 after acquiring an additional 1,313 shares during the last quarter. Finally, RDA Financial Network raised its holdings in shares of Invesco QQQ by 3.0% during the 2nd quarter. RDA Financial Network now owns 21,753 shares of the exchange traded fund’s stock valued at $10,422,000 after purchasing an additional 625 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.