Connecticut Wealth Management LLC Sells 1,738 Shares of Invesco QQQ (NASDAQ:QQQ)

Connecticut Wealth Management LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 59,356 shares of the exchange traded fund's stock after selling 1,738 shares during the period. Invesco QQQ makes up 1.4% of Connecticut Wealth Management LLC's investment portfolio, making the stock its 13th biggest position. Connecticut Wealth Management LLC's holdings in Invesco QQQ were worth $30,345,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its stake in Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. NWI Management LP lifted its stake in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the last quarter. Senator Investment Group LP bought a new stake in Invesco QQQ in the fourth quarter worth $679,936,000. Finally, Artemis Wealth Advisors LLC increased its position in shares of Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after acquiring an additional 895,277 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 1.4%

QQQ stock opened at $513.04 on Thursday. The firm's 50-day moving average price is $473.52 and its two-hundred day moving average price is $500.61. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The stock has a market capitalization of $321.50 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.

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