Invesco QQQ (NASDAQ:QQQ) Shares Down 1% - Time to Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) shares traded down 1% on Tuesday . The company traded as low as $516.14 and last traded at $519.15. 11,746,303 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 27,542,547 shares. The stock had previously closed at $524.54.

Invesco QQQ Stock Performance

The firm's 50-day simple moving average is $513.21 and its two-hundred day simple moving average is $490.14.

Invesco QQQ Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Hedge Funds Weigh In On Invesco QQQ

Several institutional investors and hedge funds have recently modified their holdings of QQQ. Legacy Bridge LLC lifted its stake in Invesco QQQ by 60.0% in the third 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 during the last quarter. BNP Paribas bought a new stake in Invesco QQQ in the third quarter worth $62,000. Ritter Daniher Financial Advisory LLC DE increased its position in Invesco QQQ by 75.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund's stock worth $71,000 after buying an additional 63 shares during the last quarter. Providence Capital Advisors LLC bought a new position in Invesco QQQ during the second quarter valued at about $76,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Invesco QQQ in the third quarter worth about $91,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.