Beaird Harris Wealth Management LLC Sells 544 Shares of Invesco QQQ $QQQ

Key Points

• Beaird Harris Wealth Management LLC has significantly reduced its stake in Invesco QQQ by 78.4%, leaving it with only 150 shares, valued at $70,000.
• Other hedge funds are actively managing their positions in Invesco QQQ, with Eagle Capital Management LLC and Brighton Jones LLC increasing their shares in the fund.
• Invesco QQQ's stock has decreased by 0.8%, with a current price of $565.62 and a recent quarterly dividend of $0.5911 announced.

Beaird Harris Wealth Management LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150 shares of the exchange traded fund's stock after selling 544 shares during the period. Beaird Harris Wealth Management LLC's holdings in Invesco QQQ were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the first quarter worth $2,775,904,000. NWI Management LP boosted its holdings in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Finally, Spear Holdings RSC Ltd bought a new stake in Invesco QQQ in the first quarter worth $474,600,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.9%

Invesco QQQ stock traded up $5.16 during mid-day trading on Thursday, hitting $575.23. The company had a trading volume of 47,304,907 shares, compared to its average volume of 43,876,056. The stock's 50 day moving average price is $564.69 and its two-hundred day moving average price is $518.35. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32.

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 issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis 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.