Invesco QQQ (NASDAQ:QQQ) Shares Down 2.1% – Should You Sell?

Invesco QQQ (NASDAQ:QQQGet Free Report)’s share price dropped 2.1% during mid-day trading on Tuesday . The company traded as low as $607.05 and last traded at $608.06. Approximately 80,756,260 shares changed hands during trading, an increase of 50% from the average daily volume of 53,860,828 shares. The stock had previously closed at $621.26.

Key Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Down 2.1%

The business’s fifty day simple moving average is $616.36 and its 200 day simple moving average is $596.54.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a $0.7941 dividend. This represents a $3.18 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.69.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently modified their holdings of the company. Goodman Advisory Group LLC purchased a new stake in shares of Invesco QQQ in the third quarter worth approximately $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the third quarter valued at about $27,000. Morgan Dempsey Capital Management LLC purchased a new position in Invesco QQQ during the second quarter worth about $30,000. Navigoe LLC grew its position in Invesco QQQ by 300.0% in the 3rd quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Invesco QQQ in the 3rd quarter valued at about $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Company Profile

(Get Free Report)

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.

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