Invesco QQQ (NASDAQ:QQQ) is Cavalier Investments LLC's Largest Position

Cavalier Investments LLC lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 59.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,946 shares of the exchange traded fund's stock after selling 84,643 shares during the quarter. Invesco QQQ comprises about 9.2% of Cavalier Investments LLC's holdings, making the stock its biggest holding. Cavalier Investments LLC's holdings in Invesco QQQ were worth $27,172,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter worth about $50,000. Banque Transatlantique SA purchased a new position in Invesco QQQ during the fourth quarter worth about $57,000. Finally, Perritt Capital Management Inc purchased a new position in Invesco QQQ during the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

Shares of NASDAQ QQQ traded up $1.87 during midday trading on Friday, hitting $548.09. The company's stock had a trading volume of 57,440,636 shares, compared to its average volume of 39,006,887. The business's fifty day simple moving average is $509.76 and its two-hundred day simple moving average is $503.88. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $549.99.

Invesco QQQ Cuts Dividend

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

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.