Invesco QQQ (NASDAQ:QQQ) Shares Down 1.8% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ)’s share price fell 1.8% during mid-day trading on Friday . The stock traded as low as $503.92 and last traded at $505.80. 16,988,482 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 30,630,738 shares. The stock had previously closed at $515.27.

Invesco QQQ Trading Down 1.7 %

The stock has a 50-day moving average price of $514.52 and a 200 day moving average price of $490.73.

Invesco QQQ Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date 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. International Assets Investment Management LLC grew its stake in shares of Invesco QQQ by 46,491.6% in the third 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. Granite Bay Wealth Management LLC boosted its holdings in Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the period. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Invesco QQQ by 6,880.6% during the second quarter. CBIZ Investment Advisory Services LLC now owns 395,588 shares of the exchange traded fund’s stock worth $189,530,000 after purchasing an additional 389,921 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Invesco QQQ by 7.3% in 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 buying an additional 338,494 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.