Centric Wealth Management Reduces Holdings in Invesco QQQ $QQQ

Key Points

• Centric Wealth Management reduced its holdings in Invesco QQQ by 8.0% in the first quarter, holding 7,588 shares worth approximately $3.56 million, making it the firm’s 28th largest investment.
• Several institutional investors, including Baird Financial Group Inc. and Pinnacle Wealth Planning Services Inc., have recently increased their stakes in Invesco QQQ, indicating ongoing interest in the fund.
• Invesco QQQ has a fifty-two week range of $402.39 to $583.32, with a recent opening price of $570.40, reflecting strong market performance.

Centric Wealth Management cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,588 shares of the exchange traded fund's stock after selling 663 shares during the period. Invesco QQQ makes up about 0.9% of Centric Wealth Management's investment portfolio, making the stock its 28th largest holding. Centric Wealth Management's holdings in Invesco QQQ were worth $3,558,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Connecticut Wealth Management LLC raised its stake in shares of Invesco QQQ by 0.4% in the first quarter. Connecticut Wealth Management LLC now owns 59,581 shares of the exchange traded fund's stock valued at $27,939,000 after acquiring an additional 225 shares during the period. Ardmore Road Asset Management LP acquired a new stake in shares of Invesco QQQ during the first quarter worth about $469,000. Titleist Asset Management LLC increased its stake in Invesco QQQ by 1.5% in the first quarter. Titleist Asset Management LLC now owns 8,500 shares of the exchange traded fund's stock valued at $3,986,000 after purchasing an additional 123 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Invesco QQQ by 11.1% in the first quarter. Baird Financial Group Inc. now owns 363,812 shares of the exchange traded fund's stock valued at $170,599,000 after acquiring an additional 36,379 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in Invesco QQQ by 39.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,727 shares of the exchange traded fund's stock valued at $2,217,000 after buying an additional 1,346 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.8%

Shares of Invesco QQQ stock traded down $4.78 during trading on Tuesday, hitting $565.62. The stock had a trading volume of 65,016,330 shares, compared to its average volume of 45,052,723. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The business has a fifty day moving average of $563.01 and a two-hundred day moving average of $517.40.

Invesco QQQ Cuts Dividend

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