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

Invesco QQQ (NASDAQ:QQQ) shares traded down 1.7% during trading on Monday . The company traded as low as $511.83 and last traded at $513.55. 10,522,827 shares were traded during trading, a decline of 72% from the average session volume of 37,040,988 shares. The stock had previously closed at $522.56.

Invesco QQQ Price Performance

The company has a fifty day moving average price of $510.64 and a two-hundred day moving average price of $488.74.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.8347 per share. The ex-dividend date is Monday, December 23rd.

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC boosted its position in Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Toronto Dominion Bank boosted its position in Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after purchasing an additional 488,815 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in Invesco QQQ by 6,880.6% in the second quarter. CBIZ Investment Advisory Services LLC now owns 395,588 shares of the exchange traded fund’s stock valued at $189,530,000 after purchasing an additional 389,921 shares during the last quarter. 44.58% of the stock is 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.