Washburn Capital Management Inc. decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,126 shares of the exchange traded fund's stock after selling 1,309 shares during the period. Invesco QQQ accounts for approximately 10.9% of Washburn Capital Management Inc.'s investment portfolio, making the stock its 4th largest position. Washburn Capital Management Inc.'s holdings in Invesco QQQ were worth $19,754,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new stake in Invesco QQQ in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Down 0.2%
NASDAQ QQQ traded down $1.00 during trading on Friday, reaching $560.80. 13,467,589 shares of the company's stock were exchanged, compared to its average volume of 44,681,832. The company has a 50 day moving average price of $532.92 and a two-hundred day moving average price of $506.84. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $563.32.
Invesco QQQ Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.
Invesco QQQ Profile
(
Free Report)
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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