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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Proficio Capital Partners LLC raised its holdings in Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after acquiring an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Invesco QQQ by 20.2% during the 4th 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 during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Invesco QQQ by 2.2% in the 4th 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 purchasing an additional 52,235 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $11.98 during midday trading on Tuesday, reaching $521.22. The company's stock had a trading volume of 47,029,049 shares, compared to its average volume of 37,403,242. The firm has a 50 day moving average price of $475.41 and a two-hundred day moving average price of $500.77. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm has a market capitalization of $326.62 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.