Arlington Capital Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,902 shares of the exchange traded fund's stock after selling 642 shares during the quarter. Invesco QQQ comprises 0.7% of Arlington Capital Management Inc.'s holdings, making the stock its 27th largest holding. Arlington Capital Management Inc.'s holdings in Invesco QQQ were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at about $1,018,000. Grant Private Wealth Management Inc purchased a new stake in Invesco QQQ in the fourth quarter valued at about $815,000. Gemsstock Ltd. raised its stake in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after buying an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at about $4,623,000. Finally, Wescott Financial Advisory Group LLC raised its stake in Invesco QQQ by 1.8% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after buying an additional 2,600 shares during the last quarter. Institutional investors own 44.58% of the company's stock.
Invesco QQQ Trading Up 0.2%
Invesco QQQ stock traded up $1.20 during midday trading on Thursday, reaching $565.01. The company's stock had a trading volume of 42,156,201 shares, compared to its average volume of 40,549,944. The stock's 50-day simple moving average is $538.24 and its 200-day simple moving average is $508.49. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $566.24.
Invesco QQQ Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.
Invesco QQQ Profile
(
Free Report)
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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