Si δ-doped AlGaAs/InGaAs/AlGaAs quantum well (QW) structure is commonly adopted as one of the core elements in modern electric and optoelectronic devices. Here, the time dependent photoconductivity spectra along the active InGaAs QW channel in a dual and symmetric Si δ-doped AlGaAs/InGaAs/AlGaAs QW structure are systematically studied under various temperatures (T = 80-300 K) and various incident photon energies (E in = 1.10-1.88 eV) and intensities. In addition to positive photoconductivity, negative photoconductivity (NPC) was observed and attributed to two origins. For T = 180-240 K with E in = 1.51-1.61 eV, the trapping of the photo-excited electrons by the interface states located inside the conduction band of InGaAs QW layer is one of the origins for NPC curves. For T = 80-120 K with E in = 1.10-1.63 eV, the photoexcitation of the excess 'supersaturated' electrons within the active InGaAs QW caused by the short cooling process is another origin.