Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1.7% - Should You Sell?

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

Invesco QQQ Stock Down 1.3 %

The firm has a fifty day moving average price of $511.04 and a two-hundred day moving average price of $489.02.

Invesco QQQ Announces Dividend

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

Institutional Investors Weigh In On Invesco QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Socha Financial Group LLC grew its position in shares of Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund's stock worth $44,732,000 after buying an additional 2,171 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its stake in Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after acquiring an additional 3,581 shares during the period. Archer Investment Corp grew its holdings in Invesco QQQ by 10.2% during the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund's stock worth $21,281,000 after acquiring an additional 4,025 shares in the last quarter. Bank Hapoalim BM increased its position in Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund's stock valued at $59,250,000 after purchasing an additional 6,347 shares during the period. Finally, Marco Investment Management LLC raised its holdings in shares of Invesco QQQ by 48.1% in the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund's stock valued at $4,696,000 after purchasing an additional 3,123 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

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.