Brown Advisory Inc. Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Brown Advisory Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,884 shares of the exchange traded fund's stock after selling 1,478 shares during the period. Brown Advisory Inc.'s holdings in Invesco QQQ were worth $23,861,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ in the fourth quarter valued at about $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ in the first quarter valued at about $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ in the fourth quarter valued at about $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ traded down $1.25 during mid-day trading on Friday, reaching $554.20. 39,558,757 shares of the company were exchanged, compared to its average volume of 39,410,561. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.63. The business has a 50 day simple moving average of $527.06 and a two-hundred day simple moving average of $505.91.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%.

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.