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

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 0.2% on Thursday . The stock traded as low as $526.31 and last traded at $529.15. 6,406,130 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 37,115,957 shares. The stock had previously closed at $529.96.

Invesco QQQ Price Performance

The stock’s 50-day moving average is $510.64 and its 200-day moving average is $488.50.

Invesco QQQ Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.8347 dividend. The ex-dividend date is Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently modified their holdings of the company. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Legacy Bridge LLC grew its position in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the last quarter. BNP Paribas acquired a new position in Invesco QQQ in the third quarter worth approximately $62,000. Bray Capital Advisors increased its holdings in shares of Invesco QQQ by 78.0% in the second quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock valued at $70,000 after buying an additional 64 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Invesco QQQ by 75.9% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after acquiring an additional 63 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.