Invesco QQQ (NASDAQ:QQQ) Shares Sold by Collaborative Wealth Managment Inc.

Key Points

• Collaborative Wealth Management Inc. reduced its stake in Invesco QQQ by 17.8%, selling 609 shares and ending the quarter with 2,814 shares valued at $1,320,000.
• Institutional investors now own 44.58% of Invesco QQQ, with several large investors like NWI Management LP and GAMMA Investing LLC significantly increasing their holdings.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, which results in an annual yield of 0.42%, with the dividend scheduled for payment on July 31st.

Collaborative Wealth Managment Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,814 shares of the exchange traded fund's stock after selling 609 shares during the period. Collaborative Wealth Managment Inc.'s holdings in Invesco QQQ were worth $1,320,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC boosted its stake in Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after acquiring an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its stake in Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. boosted its stake in Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after acquiring an additional 21 shares in the last quarter. MTM Investment Management LLC boosted its stake in Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares in the last quarter. Finally, Cutler Investment Counsel LLC boosted its stake in Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ traded down $11.13 during trading hours on Friday, hitting $553.88. The company had a trading volume of 69,290,965 shares, compared to its average volume of 44,970,789. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63. The business has a 50 day moving average of $543.12 and a 200-day moving average of $510.39.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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 annualized dividend 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.