Invesco QQQ (NASDAQ:QQQ) Shares Down 1.8% - Time to Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report) was down 1.8% during mid-day trading on Friday . The company traded as low as $503.92 and last traded at $505.80. Approximately 16,988,482 shares traded hands during trading, a decline of 45% from the average daily volume of 30,630,738 shares. The stock had previously closed at $515.27.

Invesco QQQ Trading Down 1.5 %

The stock has a fifty day moving average of $514.52 and a two-hundred day moving average of $490.73.

Invesco QQQ Dividend Announcement

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

Institutional Investors Weigh In On Invesco QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. Legacy Bridge LLC increased its holdings in shares of 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 purchasing an additional 45 shares in the last quarter. BNP Paribas bought a new position in Invesco QQQ in the 3rd quarter valued at $62,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund's stock valued at $71,000 after buying an additional 63 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the second quarter worth $76,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Invesco QQQ during the third quarter valued at $91,000. Institutional investors and hedge funds 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.