Invesco QQQ (NASDAQ:QQQ) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 185,538 shares of the exchange traded fund's stock after selling 30,415 shares during the quarter. Invesco QQQ accounts for about 3.8% of Hollencrest Capital Management's investment portfolio, making the stock its 5th biggest position. Hollencrest Capital Management's holdings in Invesco QQQ were worth $87,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Eagle Capital Management LLC boosted its stake in Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC boosted its position in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the period. Horizon Investments LLC boosted its position in shares of Invesco QQQ by 266.7% during the fourth quarter. Horizon Investments LLC now owns 1,012 shares of the exchange traded fund's stock worth $517,000 after buying an additional 736 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth approximately $123,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded down $0.54 during trading on Friday, hitting $561.26. The company had a trading volume of 50,428,921 shares, compared to its average volume of 39,504,546. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $564.73. The business's 50-day moving average is $534.38 and its 200 day moving average is $507.18.

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 paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.