Avalon Capital Management Sells 963 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Avalon Capital Management reduced its stake in Invesco QQQ by 53.6%, ending the first quarter with holdings worth $391,000.
• Invesco QQQ's price movement showed a 0.2% increase, with a fifty-two week range from $402.39 to $567.70.
• Institutional investors currently own 44.58% of Invesco QQQ, indicating a significant interest from large financial entities.

Avalon Capital Management reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 834 shares of the exchange traded fund's stock after selling 963 shares during the period. Avalon Capital Management's holdings in Invesco QQQ were worth $391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Capital Management LLC increased its stake in shares of Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares during the period. Brighton Jones LLC grew its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the period. Brown Brothers Harriman & Co. increased its position in Invesco QQQ by 34.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 14,592 shares of the exchange traded fund's stock worth $7,460,000 after buying an additional 3,728 shares during the period. Finally, RWA Wealth Partners LLC lifted its holdings in shares of Invesco QQQ by 319.3% during the fourth quarter. RWA Wealth Partners LLC now owns 34,510 shares of the exchange traded fund's stock worth $17,643,000 after buying an additional 26,280 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.2%

Shares of Invesco QQQ stock traded down $0.90 during midday trading on Thursday, hitting $567.12. The company had a trading volume of 41,708,839 shares, compared to its average volume of 44,606,402. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63. The business's 50 day simple moving average is $542.10 and its two-hundred day simple moving average is $509.98.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.