Invesco QQQ (NASDAQ:QQQ) Holdings Cut by Procyon Advisors LLC

Procyon Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,224 shares of the exchange traded fund's stock after selling 1,054 shares during the period. Procyon Advisors LLC's holdings in Invesco QQQ were worth $1,981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after purchasing an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ during the fourth quarter valued at approximately $36,000. Roxbury Financial LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in Invesco QQQ in the fourth quarter worth approximately $51,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.0%

Shares of QQQ opened at $529.92 on Friday. The firm has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The company's fifty day moving average is $483.20 and its 200-day moving average is $501.88. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.