Lowe Wealth Advisors LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Lowe Wealth Advisors LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,600 shares of the exchange traded fund's stock after selling 1,951 shares during the quarter. Invesco QQQ makes up approximately 8.9% of Lowe Wealth Advisors LLC's holdings, making the stock its 2nd largest position. Lowe Wealth Advisors LLC's holdings in Invesco QQQ were worth $20,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Group Ltd. raised its stake in Invesco QQQ by 6.9% during the 4th quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund's stock valued at $810,000 after acquiring an additional 102 shares in the last quarter. Tallon Kerry Patrick bought a new stake in Invesco QQQ during the 4th quarter valued at $4,904,000. Capital & Planning LLC raised its stake in Invesco QQQ by 5.0% during the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund's stock valued at $2,477,000 after acquiring an additional 229 shares in the last quarter. Naviter Wealth LLC raised its stake in Invesco QQQ by 8.8% during the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after acquiring an additional 107 shares in the last quarter. Finally, Eagle Capital Management LLC raised its stake in Invesco QQQ by 0.3% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.6%

Invesco QQQ stock traded down $3.24 during mid-day trading on Friday, hitting $516.69. 67,585,697 shares of the company's stock traded hands, compared to its average volume of 37,748,895. The firm has a 50 day moving average price of $478.06 and a 200 day moving average price of $501.10. The company has a market cap of $323.78 billion, a PE ratio of 30.62 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.