Balanced Wealth Group LLC Sells 1,002 Shares of Invesco QQQ (NASDAQ:QQQ)

Balanced Wealth Group LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,775 shares of the exchange traded fund's stock after selling 1,002 shares during the quarter. Invesco QQQ makes up approximately 11.1% of Balanced Wealth Group LLC's portfolio, making the stock its 2nd largest position. Balanced Wealth Group LLC's holdings in Invesco QQQ were worth $22,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $1,018,000. Synergy Investment Management LLC bought a new position in Invesco QQQ during the fourth quarter worth $723,000. Grant Private Wealth Management Inc bought a new position in Invesco QQQ during the fourth quarter worth $815,000. Tandem Investment Partners LLC bought a new position in Invesco QQQ during the fourth quarter worth $4,623,000. Finally, Gemsstock Ltd. increased its holdings in Invesco QQQ by 266.4% in the 4th 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 period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $1.25 on Thursday, hitting $533.66. The stock had a trading volume of 33,939,410 shares, compared to its average volume of 38,249,587. The firm's 50 day moving average price is $488.16 and its 200-day moving average price is $502.45. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The company has a market capitalization of $334.42 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.