Invesco QQQ (NASDAQ:QQQ) is Copperwynd Financial LLC's Largest Position

Copperwynd Financial LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,228 shares of the exchange traded fund's stock after selling 1,230 shares during the period. Invesco QQQ accounts for about 6.9% of Copperwynd Financial LLC's holdings, making the stock its biggest position. Copperwynd Financial LLC's holdings in Invesco QQQ were worth $24,959,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Calton & Associates Inc. lifted its holdings in shares of Invesco QQQ by 67.8% during the first quarter. Calton & Associates Inc. now owns 41,945 shares of the exchange traded fund's stock worth $19,669,000 after purchasing an additional 16,955 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Invesco QQQ by 5.0% during the first quarter. Kestra Private Wealth Services LLC now owns 170,009 shares of the exchange traded fund's stock worth $79,721,000 after purchasing an additional 8,145 shares during the period. Fountainhead AM LLC lifted its holdings in shares of Invesco QQQ by 58.6% during the first quarter. Fountainhead AM LLC now owns 6,293 shares of the exchange traded fund's stock worth $2,951,000 after purchasing an additional 2,326 shares during the period. SNS Financial Group LLC lifted its holdings in shares of Invesco QQQ by 1.0% during the first quarter. SNS Financial Group LLC now owns 5,419 shares of the exchange traded fund's stock worth $2,545,000 after purchasing an additional 55 shares during the period. Finally, FAS Wealth Partners Inc. lifted its holdings in shares of Invesco QQQ by 1.1% during the first quarter. FAS Wealth Partners Inc. now owns 3,253 shares of the exchange traded fund's stock worth $1,526,000 after purchasing an additional 34 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $3.43 during midday trading on Monday, reaching $564.69. The company's stock had a trading volume of 25,895,326 shares, compared to its average volume of 39,453,447. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $566.05. The stock's 50 day simple moving average is $534.38 and its 200 day simple moving average is $507.13.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is 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.