Davidson Capital Management Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Davidson Capital Management Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,348 shares of the exchange traded fund's stock after selling 8,157 shares during the period. Invesco QQQ makes up about 5.3% of Davidson Capital Management Inc.'s holdings, making the stock its 5th biggest position. Davidson Capital Management Inc.'s holdings in Invesco QQQ were worth $19,389,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in Invesco QQQ by 51,292.3% during 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 buying an additional 11,478,188 shares during the last quarter. NWI Management LP boosted its stake in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the last quarter. Senator Investment Group LP bought a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC lifted its stake 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 worth $423,470,000 after buying an additional 895,277 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded down $0.09 during trading on Thursday, hitting $528.99. The stock had a trading volume of 43,800,167 shares, compared to its average volume of 38,526,600. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The company has a 50 day simple moving average of $497.46 and a 200-day simple moving average of $503.26.

Invesco QQQ Cuts Dividend

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

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.