Invesco QQQ $QQQ Stock Holdings Cut by 1248 Management LLC

Key Points

• 1248 Management LLC reduced its stake in Invesco QQQ by 26.2% during the first quarter, now holding 7,114 shares valued at approximately $3.34 million, making it the firm's 14th largest holding.
• Goldman Sachs Group Inc. significantly increased its position in Invesco QQQ by 959.6%, acquiring over 21 million additional shares worth approximately $11.3 billion.
• Invesco QQQ's shares opened at $570.40 with a twelve-month range between $402.39 and $583.32, and recently declared a dividend of $0.5911 per share.

1248 Management LLC lessened its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,114 shares of the exchange traded fund's stock after selling 2,531 shares during the period. Invesco QQQ makes up 1.8% of 1248 Management LLC's portfolio, making the stock its 14th biggest position. 1248 Management LLC's holdings in Invesco QQQ were worth $3,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ in the fourth quarter valued at about $1,018,000. Sentinus LLC raised its stake in Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after buying an additional 970 shares in the last quarter. Sendero Wealth Management LLC acquired a new stake in Invesco QQQ during the first quarter valued at approximately $273,000. Cary Street Partners Financial LLC acquired a new stake in Invesco QQQ during the fourth quarter valued at approximately $10,052,000. Finally, Baird Financial Group Inc. raised its stake in Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock valued at $167,394,000 after buying an additional 12,627 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.9%

Shares of NASDAQ QQQ traded up $5.37 during mid-day trading on Thursday, hitting $575.44. The company had a trading volume of 38,950,871 shares, compared to its average volume of 45,074,102. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The firm's 50 day simple moving average is $564.11 and its two-hundred day simple moving average is $518.10.

Invesco QQQ Cuts Dividend

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

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.