Dynamic Advisor Solutions LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,336 shares of the exchange traded fund's stock after selling 8,640 shares during the period. Invesco QQQ accounts for about 2.3% of Dynamic Advisor Solutions LLC's holdings, making the stock its 2nd biggest position. Dynamic Advisor Solutions LLC's holdings in Invesco QQQ were worth $69,089,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the fourth quarter valued at approximately $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter valued at approximately $37,000. Midwest Capital Advisors LLC bought a new stake in Invesco QQQ during the fourth quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ during the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Performance
Invesco QQQ stock traded down $6.70 during mid-day trading on Friday, hitting $526.96. 55,743,632 shares of the company traded hands, compared to its average volume of 38,429,078. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The stock has a market cap of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The stock has a fifty day moving average price of $492.58 and a 200-day moving average price of $502.75.
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 issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.
Invesco QQQ Company Profile
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Free Report)
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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