Alliancebernstein L.P. Has $40.75 Million Stake in Invesco QQQ $QQQ

Alliancebernstein L.P. decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,898 shares of the exchange traded fund's stock after selling 4,795 shares during the period. Alliancebernstein L.P.'s holdings in Invesco QQQ were worth $40,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares during the period. Atlantic Private Wealth LLC lifted its holdings in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after buying an additional 120 shares during the period. Finally, Putney Financial Group LLC acquired a new position in Invesco QQQ in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $578.87 on Tuesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The company's fifty day simple moving average is $565.79 and its 200 day simple moving average is $518.70.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.

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