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

Invesco QQQ (NASDAQ:QQQ)’s share 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 traded hands during mid-day 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 Price Performance

The company has a fifty day simple moving average of $498.15 and a two-hundred day simple moving average of $480.58.

Invesco QQQ Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco QQQ

Large investors have recently bought and sold shares of the company. Northeast Investment Management lifted its position 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 valued at $1,697,000 after acquiring an additional 20 shares in the last quarter. Planning Capital Management Corp lifted its position in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after acquiring an additional 20 shares in the last quarter. Prospect Financial Services LLC lifted its position in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares in the last quarter. Skyline Advisors Inc. lifted its position in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Finally, Madden Advisory Services Inc. lifted its position in shares of Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.