Invesco QQQ (NASDAQ:QQQ) Shares Down 0.1% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ)’s stock price was down 0.1% on Thursday . The company traded as low as $509.56 and last traded at $511.72. Approximately 5,642,712 shares traded hands during trading, a decline of 85% from the average daily volume of 38,089,418 shares. The stock had previously closed at $512.25.

Invesco QQQ Stock Down 2.4 %

The firm’s fifty day moving average price is $489.33 and its 200-day moving average price is $474.11.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco QQQ

A number of institutional investors have recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the first quarter worth $40,000. CGC Financial Services LLC boosted its holdings in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.