Almanack Investment Partners LLC. Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Almanack Investment Partners LLC. cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 56.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 542 shares of the exchange traded fund's stock after selling 701 shares during the period. Almanack Investment Partners LLC.'s holdings in Invesco QQQ were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after buying an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after buying an additional 27,115 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Invesco QQQ by 2.2% in the fourth 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 buying an additional 52,235 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ:QQQ opened at $548.09 on Friday. The company has a 50-day simple moving average of $509.76 and a 200-day simple moving average of $503.88. Invesco QQQ has a one year low of $402.39 and a one year high of $549.99.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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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