Bulltick Wealth Management LLC Sells 1,050 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Bulltick Wealth Management LLC reduced its stake in Invesco QQQ by 16.1%, selling 1,050 shares during the first quarter, resulting in ownership of 5,454 shares valued at approximately $2.56 million.
• Other institutional investors have also adjusted their positions, with several firms increasing their holdings in Invesco QQQ by small margins in the last quarter.
• Invesco QQQ has experienced significant price fluctuations, with a 52-week low of $402.39 and a high of $576.80, and recently announced a quarterly dividend of $0.5911.

Bulltick Wealth Management LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,454 shares of the exchange traded fund's stock after selling 1,050 shares during the period. Bulltick Wealth Management LLC's holdings in Invesco QQQ were worth $2,561,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the 1st quarter valued at approximately $51,000. Finally, Banque Transatlantique SA acquired a new stake in Invesco QQQ in the 4th quarter valued at approximately $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 1.3%

Invesco QQQ stock traded up $7.20 during midday trading on Tuesday, reaching $580.05. The stock had a trading volume of 42,061,779 shares, compared to its average volume of 44,394,500. The firm's fifty day simple moving average is $551.05 and its 200-day simple moving average is $512.86. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $580.35.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date 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.