Apollon Wealth Management LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Apollon Wealth Management LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 88,262 shares of the exchange traded fund's stock after selling 39,854 shares during the quarter. Invesco QQQ accounts for approximately 0.9% of Apollon Wealth Management LLC's portfolio, making the stock its 23rd biggest position. Apollon Wealth Management LLC's holdings in Invesco QQQ were worth $41,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.2%

Shares of QQQ stock opened at $554.20 on Monday. The business's fifty day moving average price is $527.06 and its 200 day moving average price is $505.58. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.63.

Invesco QQQ Cuts Dividend

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

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