Invesco QQQ (NASDAQ:QQQ) Position Decreased by Gerber LLC

Gerber LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,842 shares of the exchange traded fund's stock after selling 640 shares during the period. Invesco QQQ comprises approximately 9.3% of Gerber LLC's portfolio, making the stock its 2nd biggest holding. Gerber LLC's holdings in Invesco QQQ were worth $11,180,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter worth $36,000. Banque Transatlantique SA purchased a new position in Invesco QQQ during the fourth quarter worth $57,000. Perritt Capital Management Inc acquired a new position in shares of Invesco QQQ in the fourth quarter worth $61,000. Finally, Frazier Financial Advisors LLC raised its holdings in shares of Invesco QQQ by 1,288.9% in the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock worth $64,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ:QQQ traded up $1.38 on Wednesday, hitting $541.16. The company had a trading volume of 44,546,750 shares, compared to its average volume of 38,738,101. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $543.27. The business has a 50 day moving average of $503.69 and a 200 day moving average of $503.45.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.44%.

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.