Invesco QQQ (NASDAQ:QQQ) Shares Down 0.8% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) shares dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $510.26 and last traded at $511.23. Approximately 29,055,953 shares were traded during trading, a decline of 22% from the average daily volume of 37,113,145 shares. The stock had previously closed at $515.61.

Invesco QQQ Trading Down 0.2 %

The company has a fifty day moving average price of $512.17 and a 200 day moving average price of $489.54.

Invesco QQQ Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Legacy Bridge LLC lifted its holdings in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas purchased a new position in Invesco QQQ in the 3rd quarter worth $62,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 63 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in Invesco QQQ during the second quarter valued at about $76,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Invesco QQQ during the third quarter valued at about $91,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Company Profile

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.