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

Invesco QQQ (NASDAQ:QQQ) shares were down 0.2% during mid-day trading on Monday . The stock traded as low as $516.13 and last traded at $517.72. Approximately 8,224,292 shares traded hands during trading, a decline of 78% from the average daily volume of 37,227,469 shares. The stock had previously closed at $518.66.

Invesco QQQ Stock Performance

The stock’s 50-day moving average is $508.53 and its 200-day moving average is $487.51.

Invesco QQQ Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a dividend of $0.8347 per share. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Several large investors have recently made changes to their positions in QQQ. Lantz Financial LLC bought a new stake in shares of Invesco QQQ in the second quarter worth $214,000. Burney Co. grew its stake in shares of Invesco QQQ by 18.8% in the second quarter. Burney Co. now owns 4,595 shares of the exchange traded fund’s stock worth $2,201,000 after purchasing an additional 728 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Invesco QQQ during the second quarter valued at about $128,000. Members Trust Co acquired a new position in Invesco QQQ during the 2nd quarter valued at about $378,000. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Invesco QQQ by 6.5% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 45,484 shares of the exchange traded fund’s stock worth $21,792,000 after buying an additional 2,757 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.