Donaldson Capital Management LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Donaldson Capital Management LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 76.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,619 shares of the exchange traded fund's stock after selling 5,295 shares during the quarter. Donaldson Capital Management LLC's holdings in Invesco QQQ were worth $759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. PayPay Securities Corp boosted its holdings in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $36,000. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $51,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 1.3%

Shares of QQQ traded down $6.70 during midday trading on Friday, reaching $526.96. The stock had a trading volume of 55,743,632 shares, compared to its average volume of 38,429,078. The company's 50-day moving average is $492.58 and its 200 day moving average is $502.75. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The company has a market capitalization of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.