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

49 Wealth Management LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.1% in the first quarter, according to the company in its most recent 13F filing 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 quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ during the fourth quarter valued at about $36,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded down $0.80 during mid-day trading on Thursday, hitting $555.45. The company's stock had a trading volume of 33,642,600 shares, compared to its average volume of 39,402,941. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.63. The stock has a fifty day moving average of $524.27 and a 200-day moving average of $505.52.

Invesco QQQ Cuts Dividend

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

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.