Innova Wealth Partners Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Innova Wealth Partners lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 60.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776 shares of the exchange traded fund's stock after selling 2,753 shares during the quarter. Innova Wealth Partners' holdings in Invesco QQQ were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Advisor OS LLC raised its stake in shares of Invesco QQQ by 32.1% in the first quarter. Advisor OS LLC now owns 7,270 shares of the exchange traded fund's stock worth $3,409,000 after purchasing an additional 1,766 shares during the last quarter. AJ Advisors LLC raised its stake in shares of Invesco QQQ by 3.7% in the first quarter. AJ Advisors LLC now owns 47,733 shares of the exchange traded fund's stock worth $22,383,000 after purchasing an additional 1,713 shares during the last quarter. NorthStar Asset Management LLC NJ raised its stake in shares of Invesco QQQ by 5.6% in the first quarter. NorthStar Asset Management LLC NJ now owns 6,130 shares of the exchange traded fund's stock worth $2,875,000 after purchasing an additional 324 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Invesco QQQ by 10.0% in the first quarter. Pinnacle Associates Ltd. now owns 188,479 shares of the exchange traded fund's stock worth $88,381,000 after purchasing an additional 17,103 shares during the last quarter. Finally, Opes Wealth Management LLC raised its stake in shares of Invesco QQQ by 54.7% in the first quarter. Opes Wealth Management LLC now owns 1,522 shares of the exchange traded fund's stock worth $714,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.2%

Shares of NASDAQ:QQQ traded up $1.20 during trading on Thursday, hitting $565.01. The stock had a trading volume of 42,156,201 shares, compared to its average volume of 40,549,944. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $566.24. The stock has a 50-day simple moving average of $538.24 and a two-hundred day simple moving average of $508.49.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ 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.