POM Investment Strategies LLC Sells 23,726 Shares of Invesco QQQ (NASDAQ:QQQ)

POM Investment Strategies LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 99.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210 shares of the exchange traded fund's stock after selling 23,726 shares during the period. POM Investment Strategies LLC's holdings in Invesco QQQ were worth $99,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter worth approximately $1,018,000. Grant Private Wealth Management Inc acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $815,000. Gemsstock Ltd. raised its holdings in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after buying an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC acquired a new position in Invesco QQQ during the 4th quarter worth about $4,623,000. Finally, Wescott Financial Advisory Group LLC grew its holdings in Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after acquiring an additional 2,600 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.1%

QQQ traded down $0.80 during midday trading on Thursday, hitting $555.45. The company had a trading volume of 34,532,031 shares, compared to its average volume of 39,450,524. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $557.63. The firm's 50-day simple moving average is $524.27 and its 200-day simple moving average is $505.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

About Invesco QQQ

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.