Ellis Investment Partners LLC Sells 530 Shares of Invesco QQQ (NASDAQ:QQQ)

Ellis Investment Partners LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,453 shares of the exchange traded fund's stock after selling 530 shares during the period. Invesco QQQ makes up approximately 4.2% of Ellis Investment Partners LLC's portfolio, making the stock its 5th biggest holding. Ellis Investment Partners LLC's holdings in Invesco QQQ were worth $20,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth about $36,000. Midwest Capital Advisors LLC acquired a new stake in Invesco QQQ during the 4th quarter worth about $51,000. Banque Transatlantique SA acquired a new stake in Invesco QQQ during the 4th quarter worth about $57,000. Finally, Perritt Capital Management Inc acquired a new stake in Invesco QQQ during the 4th quarter worth about $61,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4%

Shares of QQQ opened at $526.83 on Friday. The business's 50-day moving average is $500.57 and its two-hundred day moving average is $503.28. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a dividend of $0.7157 per share. 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.

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