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

Shares of Invesco QQQ (NASDAQ:QQQ) dropped 0.1% on Tuesday . The stock traded as low as $513.99 and last traded at $515.17. Approximately 6,632,833 shares changed hands during trading, a decline of 82% from the average daily volume of 37,022,203 shares. The stock had previously closed at $515.61.

Invesco QQQ Stock Down 0.8 %

The stock has a fifty day moving average of $511.81 and a 200-day moving average of $489.39.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund’s stock worth $9,468,000 after buying an additional 11,351 shares in the last quarter. 1ST Source Bank boosted its position in shares of Invesco QQQ by 0.8% during the 3rd quarter. 1ST Source Bank now owns 4,738 shares of the exchange traded fund’s stock worth $2,312,000 after purchasing an additional 38 shares in the last quarter. Garden State Investment Advisory Services LLC increased its holdings in shares of Invesco QQQ by 13.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund’s stock valued at $15,169,000 after purchasing an additional 3,581 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Invesco QQQ during the third quarter worth about $550,000. Finally, Little Harbor Advisors LLC increased its stake in Invesco QQQ by 7.5% in the 3rd quarter. Little Harbor Advisors LLC now owns 18,787 shares of the exchange traded fund’s stock valued at $9,169,000 after purchasing an additional 1,316 shares in the last quarter. 44.58% of the stock is currently 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.