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

Invesco QQQ (NASDAQ:QQQ) shares fell 0.7% during mid-day trading on Friday . The company traded as low as $523.68 and last traded at $525.64. 11,830,024 shares traded hands during trading, a decline of 63% from the average session volume of 31,709,592 shares. The stock had previously closed at $529.60.

Invesco QQQ Price Performance

The firm’s 50-day moving average is $521.00 and its 200-day moving average is $495.29.

Invesco QQQ Dividend Announcement

The firm 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.

Hedge Funds Weigh In On Invesco QQQ

Hedge funds have recently made changes to their positions in the business. PayPay Securities Corp raised its position in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $37,000. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 20 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the 4th quarter worth approximately $51,000. Finally, Legacy Bridge LLC lifted its position in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.