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

Invesco QQQ (NASDAQ:QQQ)’s share price was down 0.8% during mid-day trading on Thursday . The company traded as low as $532.46 and last traded at $535.18. Approximately 8,327,361 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 29,483,059 shares. The stock had previously closed at $539.52.

Invesco QQQ Price Performance

The company has a 50 day simple moving average of $523.26 and a 200 day simple moving average of $499.81.

Invesco QQQ Announces Dividend

The firm 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 was Monday, December 23rd.

Institutional Trading of Invesco QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PayPay Securities Corp grew its stake in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $37,000. Finally, Hoese & Co LLP raised its holdings in shares of Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. 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.