49 Wealth Management LLC Sells 812 Shares of Invesco QQQ (NASDAQ:QQQ)

49 Wealth Management LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,079 shares of the exchange traded fund's stock after selling 812 shares during the period. 49 Wealth Management LLC's holdings in Invesco QQQ were worth $975,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QQQ. Ameriprise Financial Inc. boosted its holdings in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after acquiring an additional 756,990 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares during the last quarter. GAMMA Investing LLC increased its position in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Invesco QQQ by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock valued at $629,680,000 after acquiring an additional 14,017 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.7%

Invesco QQQ stock traded up $3.91 during mid-day trading on Wednesday, reaching $556.25. 42,940,948 shares of the stock traded hands, compared to its average volume of 39,424,508. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.57. The business's 50-day moving average is $522.66 and its 200-day moving average is $505.17.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is 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.