Delta Investment Management LLC Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Delta Investment Management LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,352 shares of the exchange traded fund's stock after selling 795 shares during the period. Delta Investment Management LLC's holdings in Invesco QQQ were worth $2,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in Invesco QQQ by 51,292.3% during the 4th 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. Ameriprise Financial Inc. grew its stake in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after buying an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after buying an additional 52,235 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.9%

NASDAQ:QQQ traded down $4.76 during mid-day trading on Friday, reaching $509.24. 58,324,904 shares of the stock were exchanged, compared to its average volume of 37,332,905. The company has a 50 day simple moving average of $474.84 and a 200-day simple moving average of $500.92. The stock has a market capitalization of $319.12 billion, a P/E ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date 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.