Invesco QQQ (NASDAQ:QQQ) Trading Down 1.1% - Time to Sell?

Key Points

• Invesco QQQ's share price decreased by 1.1% to $570.93, with a trading volume significantly down to 16.4 million shares, which is 63% lower than its average.
• The company recently announced a quarterly dividend of $0.5911, which results in an annualized dividend of $2.36 and a yield of 0.4%.
• Institutional investors currently own 44.58% of Invesco QQQ's stock, with various large firms making new stake acquisitions recently.

Invesco QQQ (NASDAQ:QQQ - )'s share price fell 1.1% on Tuesday . The company traded as low as $571.53 and last traded at $570.93. 16,395,970 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 44,533,637 shares. The stock had previously closed at $577.11.

Invesco QQQ Trading Down 1.3%

The business's fifty day simple moving average is $555.06 and its 200 day simple moving average is $514.44.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

Hedge Funds Weigh In On Invesco QQQ

Large investors have recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC bought a new position in shares of Invesco QQQ in the 2nd quarter valued at about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Marshall & Sullivan Inc. WA bought a new position in Invesco QQQ in the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter worth $50,000. Finally, Westend Capital Management LLC acquired a new position in shares of Invesco QQQ during the first quarter worth $51,000. 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.

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