Invesco QQQ (NASDAQ:QQQ) Stock Price Down 0.1% - Time to Sell?

Invesco QQQ (NASDAQ:QQQ - Get Free Report)'s share price was down 0.1% during trading on Monday . The stock traded as low as $493.12 and last traded at $493.73. Approximately 6,465,052 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 38,853,418 shares. The stock had previously closed at $494.47.

Invesco QQQ Trading Up 0.2 %

The firm has a 50-day moving average of $478.57 and a two-hundred day moving average of $465.57.

Invesco QQQ Cuts Dividend

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

Institutional Trading of Invesco QQQ

A number of institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock valued at $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its position in 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 worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Invesco QQQ by 18,691.3% in 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 buying an additional 2,762,571 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund's stock worth $1,219,115,000 after buying an additional 64,401 shares during the period. Institutional investors and hedge funds 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.