Bailard Inc. Sells 162,507 Shares of Invesco QQQ (NASDAQ:QQQ)

Bailard Inc. trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 63.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,434 shares of the exchange traded fund's stock after selling 162,507 shares during the period. Invesco QQQ makes up about 1.1% of Bailard Inc.'s investment portfolio, making the stock its 22nd biggest position. Bailard Inc.'s holdings in Invesco QQQ were worth $43,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ by 4.3% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after buying an additional 20 shares in the last quarter. Legacy Investment Solutions LLC lifted its holdings in shares of Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after purchasing an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. raised its stake in Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares in the last quarter. Finally, MTM Investment Management LLC raised its stake in Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.1%

QQQ traded down $0.54 on Friday, reaching $561.26. The company had a trading volume of 50,428,921 shares, compared to its average volume of 39,544,187. The business has a 50 day simple moving average of $532.92 and a 200 day simple moving average of $506.84. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $563.36.

Invesco QQQ Cuts Dividend

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

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.