Invesco QQQ (NASDAQ:QQQ) Trading Down 0.8% – Should You Sell?

Invesco QQQ (NASDAQ:QQQ) shares fell 0.8% on Thursday . The company traded as low as $501.93 and last traded at $505.30. 24,880,947 shares changed hands during trading, a decline of 34% from the average session volume of 37,868,289 shares. The stock had previously closed at $509.31.

Invesco QQQ Stock Performance

The firm has a fifty day moving average price of $496.13 and a two-hundred day moving average price of $478.96.

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 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in Invesco QQQ in the 2nd quarter worth $30,000. CGC Financial Services LLC increased its position 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 worth $44,000 after buying an additional 81 shares in the last quarter. PFG Private Wealth Management LLC lifted its position in shares of 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 buying an additional 103 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares in the last quarter. Finally, BNP Paribas purchased a new stake in Invesco QQQ in the 3rd quarter worth approximately $62,000. 44.58% of the stock is currently owned by 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.