Howard Financial Services LTD. Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Howard Financial Services LTD. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,358 shares of the exchange traded fund's stock after selling 971 shares during the quarter. Invesco QQQ makes up 1.1% of Howard Financial Services LTD.'s holdings, making the stock its 25th largest holding. Howard Financial Services LTD.'s holdings in Invesco QQQ were worth $8,140,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bath Savings Trust Co boosted its holdings in shares of Invesco QQQ by 10.1% during the 1st quarter. Bath Savings Trust Co now owns 732 shares of the exchange traded fund's stock valued at $343,000 after purchasing an additional 67 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of Invesco QQQ by 29.0% during the 1st quarter. Webster Bank N. A. now owns 16,422 shares of the exchange traded fund's stock valued at $7,701,000 after purchasing an additional 3,688 shares during the last quarter. First Citizens Financial Corp boosted its holdings in shares of Invesco QQQ by 3.5% during the 1st quarter. First Citizens Financial Corp now owns 4,416 shares of the exchange traded fund's stock valued at $2,071,000 after purchasing an additional 150 shares during the last quarter. Marcum Wealth LLC boosted its holdings in shares of Invesco QQQ by 0.5% during the 1st quarter. Marcum Wealth LLC now owns 19,661 shares of the exchange traded fund's stock valued at $9,219,000 after purchasing an additional 95 shares during the last quarter. Finally, Hobart Private Capital LLC boosted its holdings in shares of Invesco QQQ by 18.6% during the 1st quarter. Hobart Private Capital LLC now owns 1,315 shares of the exchange traded fund's stock valued at $617,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ traded up $1.46 during midday trading on Monday, hitting $520.57. 24,423,430 shares of the company traded hands, compared to its average volume of 37,625,917. The firm has a 50 day moving average of $478.06 and a 200-day moving average of $500.97. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The stock has a market cap of $326.21 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. 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.