Crown Wealth Group LLC Has $1.14 Million Position in Invesco QQQ (NASDAQ:QQQ)

Crown Wealth Group LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 30.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,424 shares of the exchange traded fund's stock after selling 1,076 shares during the period. Invesco QQQ makes up 0.6% of Crown Wealth Group LLC's portfolio, making the stock its 28th biggest position. Crown Wealth Group LLC's holdings in Invesco QQQ were worth $1,137,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tallon Kerry Patrick bought a new stake in Invesco QQQ during the fourth quarter worth about $4,904,000. Naviter Wealth LLC grew its stake in Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock worth $675,000 after buying an additional 107 shares during the last quarter. Eagle Capital Management LLC grew its stake in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after buying an additional 185 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ opened at $548.09 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $549.99. The company's 50 day simple moving average is $509.76 and its 200-day simple moving average is $503.88.

Invesco QQQ Cuts Dividend

The business 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. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

About Invesco QQQ

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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