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

49 Wealth Management LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,079 shares of the exchange traded fund's stock after selling 812 shares during the quarter. 49 Wealth Management LLC's holdings in Invesco QQQ were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its position in shares of Invesco QQQ by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after buying an additional 185 shares during the period. Brighton Jones LLC grew its position in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the period. Proficio Capital Partners LLC grew its position in shares of Invesco QQQ by 3.1% during the 4th quarter. Proficio Capital Partners LLC now owns 23,065 shares of the exchange traded fund's stock worth $11,791,000 after buying an additional 687 shares during the period. Finally, Amundi grew its position in shares of Invesco QQQ by 13.0% during the 4th quarter. Amundi now owns 104,303 shares of the exchange traded fund's stock worth $53,744,000 after buying an additional 12,015 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.2%

Shares of NASDAQ:QQQ traded down $1.25 during trading on Friday, hitting $554.20. 39,558,757 shares of the company's stock were exchanged, compared to its average volume of 39,410,558. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.63. The firm has a 50-day moving average price of $527.06 and a two-hundred day moving average price of $505.91.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.