Invesco QQQ (NASDAQ:QQQ) Trading Down 1.7% – Should You Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) traded down 1.7% on Friday . The company traded as low as $518.04 and last traded at $520.37. 10,405,127 shares changed hands during trading, a decline of 72% from the average session volume of 37,058,051 shares. The stock had previously closed at $529.60.

Invesco QQQ Stock Down 2.0 %

The company’s fifty day moving average is $510.08 and its two-hundred day moving average is $488.10.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.8347 dividend. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Trading of Invesco QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its stake in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares during the last quarter. Toronto Dominion Bank lifted its position in Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after acquiring an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at approximately $215,600,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.