Invesco QQQ (NASDAQ:QQQ) Trading Down 0.3% – Time to Sell?

Shares of Invesco QQQ (NASDAQ:QQQ) were down 0.3% during mid-day trading on Monday . The company traded as low as $484.25 and last traded at $485.94. Approximately 5,054,024 shares were traded during trading, a decline of 87% from the average daily volume of 39,506,785 shares. The stock had previously closed at $487.32.

Invesco QQQ Stock Down 0.1 %

The firm has a 50 day moving average price of $470.56 and a 200-day moving average price of $462.37.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

Institutional Investors Weigh In On Invesco QQQ

Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in shares of Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after acquiring an additional 338,494 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ during the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake 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 worth $13,307,000 after buying an additional 2,762,571 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.