Invesco QQQ (NASDAQ:QQQ) Stock Price Down 1% - Should You Sell?

On Tuesday, shares of Invesco QQQ (NASDAQ:QQQ) saw a decline of 1% in mid-day trading. The stock dipped to a low of $516.14 before last being recorded at $519.15, which is a noticeable drop from its previous close of $524.54. In this trading session, around 11,746,303 shares changed hands, marking a significant decline of 57% compared to its average daily volume of 27,542,547 shares.

Invesco QQQ Price Performance

Invesco QQQ has a 50-day moving average of $513.21 and a 200-day moving average of $490.14, indicating the recent performance trends of the stock.

Invesco QQQ Announces Dividend

Recently, the company declared a dividend which was distributed on Tuesday, December 31st. Shareholders who were on record as of Monday, December 23rd, received a dividend of $0.8347 per share, with the ex-dividend date also being December 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently adjusted their holdings in Invesco QQQ. Legacy Bridge LLC increased its stake by 60.0% during the third quarter, now holding 120 shares valued at approximately $59,000 after acquiring an additional 45 shares. BNP Paribas entered a new position in Invesco QQQ, valued at around $62,000. Additionally, Ritter Daniher Financial Advisory LLC DE ramped up its holdings by 75.9%, now owning 146 shares worth about $71,000 following a purchase of 63 shares last quarter. Providence Capital Advisors LLC and Ashton Thomas Securities LLC also made new investments in the fund, valued at approximately $76,000 and $91,000 respectively. Currently, institutional investors own approximately 44.58% of the total shares.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1 is a type of unit investment trust focusing on Nasdaq-100 Index Tracking Stock. The primary aim is to mirror the performance of the Nasdaq-100 Index in terms of price and yield. This trust allows investors the opportunity to buy units that represent undivided interests in the portfolio of securities maintained by the trust, largely containing the same securities in similar proportions as the Nasdaq-100 Index components.

Further Reading

Investors might also explore additional resources for investment strategy, such as, Five stocks we like better than Invesco QQQ, Ride Out The Recession With These Dividend Kings, and Disney: Forging a 3-Headed Sports Streaming Giant With Fubo Deal.

This article provides an overview of Invesco QQQ to help investors make an informed decision regarding their positions. It's essential to consider various factors when determining whether to hold, buy, or sell shares.

Should You Invest $1,000 in Invesco QQQ Right Now?

Before reaching a decision on investing in Invesco QQQ, it may be prudent to explore other available options. Analysts observe that although Invesco QQQ currently holds a 'Hold' rating, there are five other stocks that top analysts believe are better investment opportunities.

stocks, dividend, investment