Highline Wealth Partners LLC Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Highline Wealth Partners LLC lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,423 shares of the exchange traded fund's stock after selling 5,716 shares during the quarter. Invesco QQQ makes up about 1.8% of Highline Wealth Partners LLC's portfolio, making the stock its 17th biggest position. Highline Wealth Partners LLC's holdings in Invesco QQQ were worth $5,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilkins Miller Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter valued at $1,018,000. Synergy Investment Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $723,000. Grant Private Wealth Management Inc acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $815,000. Tandem Investment Partners LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $4,623,000. Finally, Gemsstock Ltd. boosted its position in shares of Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 1.0%

Shares of Invesco QQQ stock traded down $5.21 during trading on Tuesday, reaching $529.08. The company's stock had a trading volume of 41,752,700 shares, compared to its average volume of 38,448,220. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The company has a 50-day simple moving average of $494.94 and a two-hundred day simple moving average of $502.90.

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 given a $0.7157 dividend. The ex-dividend date of this dividend 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.