Invesco QQQ (NASDAQ:QQQ) is Capstone Wealth Management Group LLC's 7th Largest Position

Capstone Wealth Management Group LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,565 shares of the exchange traded fund's stock after selling 1,038 shares during the period. Invesco QQQ accounts for approximately 5.1% of Capstone Wealth Management Group LLC's portfolio, making the stock its 7th largest position. Capstone Wealth Management Group LLC's holdings in Invesco QQQ were worth $6,361,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after purchasing an additional 52,235 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after purchasing an additional 568,120 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7%

Shares of NASDAQ QQQ opened at $550.80 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $552.80. The company has a 50 day simple moving average of $516.09 and a two-hundred day simple moving average of $504.49.

Invesco QQQ Cuts Dividend

The company 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 dividend yield of 0.43%. 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.

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