Fairvoy Private Wealth LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Fairvoy Private Wealth LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 36.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,435 shares of the exchange traded fund's stock after selling 4,802 shares during the quarter. Invesco QQQ makes up approximately 1.1% of Fairvoy Private Wealth LLC's holdings, making the stock its 25th biggest position. Fairvoy Private Wealth LLC's holdings in Invesco QQQ were worth $3,955,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QQQ. Proficio Capital Partners LLC boosted its position in shares of 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 acquiring an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. grew its position in Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Invesco QQQ by 0.9% in 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 period. Commonwealth Equity Services LLC raised its stake in shares of Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock traded down $5.21 during mid-day trading on Tuesday, hitting $529.08. The stock had a trading volume of 41,752,700 shares, compared to its average volume of 38,448,220. The firm's 50-day moving average is $494.94 and its two-hundred day moving average is $502.90. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently declared 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 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.