Invesco QQQ (NASDAQ:QQQ) Shares Down 0.7% – Time to Sell?

Invesco QQQ (NASDAQ:QQQ) fell 0.7% during trading on Monday . The company traded as low as $520.19 and last traded at $522.23. 15,009,571 shares were traded during trading, a decline of 50% from the average session volume of 30,055,754 shares. The stock had previously closed at $526.08.

Invesco QQQ Stock Performance

The firm’s 50-day moving average price is $523.39 and its 200 day moving average price is $501.59.

Invesco QQQ Announces Dividend

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

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently modified their holdings of the company. Stephens Consulting LLC lifted its stake in Invesco QQQ by 0.4% during the fourth quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock valued at $2,769,000 after buying an additional 19 shares in the last quarter. Northeast Investment Management boosted its holdings in Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares during the period. Planning Capital Management Corp lifted its holdings in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after buying an additional 20 shares during the last quarter. Cardinal Point Capital Management ULC boosted its holdings in Invesco QQQ by 0.5% in the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after purchasing an additional 20 shares during the period. Finally, Hoese & Co LLP grew its stake in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 20 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.