Invesco QQQ (NASDAQ:QQQ) Trading Down 1.4% - Should You Sell?

Key Points

• Invesco QQQ's shares have declined by 1.4%, trading at around $562.15, with a significant drop in trading volume of 44% compared to its average.
• The firm has recently declared a quarterly dividend of $0.5911 per share, representing an annualized yield of 0.4%.
• Approximately 44.58% of Invesco QQQ's stock is owned by institutional investors, indicating a substantial interest from large financial entities.

Shares of Invesco QQQ (NASDAQ:QQQ - ) were down 1.4% during mid-day trading on Tuesday . The company traded as low as $559.53 and last traded at $562.15. Approximately 25,190,463 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 44,810,664 shares. The stock had previously closed at $570.40.

Invesco QQQ Stock Down 1.3%

The business's 50 day moving average price is $563.01 and its 200-day moving average price is $517.40.

Invesco QQQ Cuts Dividend

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

Institutional Investors Weigh In On Invesco QQQ

Large investors have recently modified their holdings of the stock. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at $1,018,000. Sentinus LLC grew its holdings in shares of Invesco QQQ by 17.6% in the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock worth $3,307,000 after purchasing an additional 970 shares during the last quarter. Sendero Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth about $273,000. Cary Street Partners Financial LLC bought a new position in Invesco QQQ during the 4th quarter valued at about $10,052,000. Finally, Griffith & Werner Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at about $583,000. 44.58% of the stock is currently owned by 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.

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