Invesco QQQ (NASDAQ:QQQ) Trading Down 1% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) traded down 1% during trading on Tuesday . The stock traded as low as $516.14 and last traded at $519.15. 11,746,303 shares changed hands during trading, a decline of 57% from the average session volume of 27,542,547 shares. The stock had previously closed at $524.54.

Invesco QQQ Price Performance

The stock has a 50-day moving average of $513.21 and a two-hundred day moving average of $490.14.

Invesco QQQ Dividend Announcement

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

Institutional Trading of Invesco QQQ

A number of hedge funds have recently modified their holdings of the business. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas purchased a new position in shares of Invesco QQQ during the 3rd quarter valued at $62,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of 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 acquiring an additional 63 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth $76,000. Finally, Ashton Thomas Securities LLC purchased a new position in Invesco QQQ in the third quarter valued at about $91,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.