Ashford Capital Management Inc. Cuts Stock Position in Invesco QQQ $QQQ

Key Points

• Ashford Capital Management Inc. reduced its stake in Invesco QQQ by 11.8%, holding 8,780 shares worth approximately $4.1 million after selling 1,171 shares in the first quarter.
• Other institutional investors are also actively adjusting their holdings, with firms like Atlantic Private Wealth LLC and Blume Capital Management Inc. significantly increasing their positions in Invesco QQQ.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, reflecting a dividend yield of 0.4% with shareholders receiving an annualized dividend of $2.36.

Ashford Capital Management Inc. lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,780 shares of the exchange traded fund's stock after selling 1,171 shares during the quarter. Ashford Capital Management Inc.'s holdings in Invesco QQQ were worth $4,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at about $51,000. Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter valued at about $57,000. Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $570.40 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $583.32. The company's 50-day simple moving average is $562.24 and its 200-day simple moving average is $517.38.

Invesco QQQ Cuts Dividend

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