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

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 0.1% during trading on Wednesday . The stock traded as low as $496.64 and last traded at $499.54. 7,965,809 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 38,544,535 shares. The stock had previously closed at $500.16.

Invesco QQQ Stock Performance

The stock’s 50 day moving average is $481.65 and its two-hundred day moving average is $468.15.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several hedge funds have recently bought and sold shares of the company. Northeast Investment Management boosted its holdings in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after buying an additional 20 shares during the period. Prospect Financial Services LLC boosted its holdings in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Skyline Advisors Inc. grew its position in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares in the last quarter. Madden Advisory Services Inc. increased its stake in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after buying an additional 21 shares during the period. Finally, Sweeney & Michel LLC lifted its position in Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 22 shares in the last quarter. 44.58% of the stock is 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.