CoreCap Advisors LLC Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

CoreCap Advisors LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,279 shares of the exchange traded fund's stock after selling 1,058 shares during the quarter. Invesco QQQ makes up 1.9% of CoreCap Advisors LLC's portfolio, making the stock its 8th biggest position. CoreCap Advisors LLC's holdings in Invesco QQQ were worth $41,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after acquiring an additional 11,351 shares during the last quarter. CWA Asset Management Group LLC grew its position in Invesco QQQ by 6.4% during the 4th quarter. CWA Asset Management Group LLC now owns 6,348 shares of the exchange traded fund's stock valued at $3,245,000 after purchasing an additional 384 shares during the last quarter. Stonehearth Capital Management LLC increased its stake in Invesco QQQ by 2,573.9% during the 4th quarter. Stonehearth Capital Management LLC now owns 11,979 shares of the exchange traded fund's stock valued at $6,124,000 after purchasing an additional 11,531 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in Invesco QQQ in the fourth quarter worth about $275,000. Finally, Legend Financial Advisors Inc. raised its holdings in Invesco QQQ by 0.3% in the fourth quarter. Legend Financial Advisors Inc. now owns 25,964 shares of the exchange traded fund's stock worth $13,273,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.9 %

NASDAQ:QQQ opened at $481.41 on Wednesday. The stock has a market cap of $301.68 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The company's 50 day moving average price is $468.61 and its 200-day moving average price is $499.45. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.

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