Advisor Resource Council Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Advisor Resource Council trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 86.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 848 shares of the exchange traded fund's stock after selling 5,304 shares during the quarter. Advisor Resource Council's holdings in Invesco QQQ were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth about $706,000. Leigh Baldwin & CO. LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $431,000. Armis Advisers LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $12,237,000. Chokshi & Queen Wealth Advisors Inc purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $29,734,000. Finally, Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $1,018,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $1.53 on Thursday, hitting $520.44. The stock had a trading volume of 35,833,216 shares, compared to its average volume of 37,484,753. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a market capitalization of $326.13 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The firm has a 50-day moving average of $477.01 and a 200-day moving average of $501.03.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.