Invesco QQQ (NASDAQ:QQQ) is Founders Capital Management's Largest Position

Founders Capital Management lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,361 shares of the exchange traded fund's stock after selling 757 shares during the quarter. Invesco QQQ makes up approximately 9.2% of Founders Capital Management's portfolio, making the stock its biggest holding. Founders Capital Management's holdings in Invesco QQQ were worth $14,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Cerro Pacific Wealth Advisors LLC grew its stake in Invesco QQQ by 5.7% in the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 37,624 shares of the exchange traded fund's stock valued at $19,234,000 after buying an additional 2,014 shares in the last quarter. Ables Iannone Moore & Associates Inc. grew its stake in Invesco QQQ by 14.2% in the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 1,577 shares of the exchange traded fund's stock valued at $740,000 after buying an additional 196 shares in the last quarter. Presidio Capital Management LLC grew its stake in Invesco QQQ by 37.0% in the 1st quarter. Presidio Capital Management LLC now owns 75,139 shares of the exchange traded fund's stock valued at $35,234,000 after buying an additional 20,276 shares in the last quarter. Catalyst Private Wealth LLC grew its stake in Invesco QQQ by 40.7% in the 1st quarter. Catalyst Private Wealth LLC now owns 2,053 shares of the exchange traded fund's stock valued at $963,000 after buying an additional 594 shares in the last quarter. Finally, Avondale Wealth Management grew its position in shares of Invesco QQQ by 4.9% during the 1st quarter. Avondale Wealth Management now owns 31,780 shares of the exchange traded fund's stock valued at $14,902,000 after purchasing an additional 1,479 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.8%

Shares of QQQ traded up $4.10 during mid-day trading on Monday, reaching $523.21. 44,563,388 shares of the stock traded hands, compared to its average volume of 37,701,761. The firm has a fifty day moving average price of $478.06 and a 200 day moving average price of $500.97. The company has a market cap of $327.87 billion, a price-to-earnings 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 announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date 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.