Invesco QQQ (NASDAQ:QQQ) Stock Position Increased by Focused Wealth Management Inc

Focused Wealth Management Inc lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,450 shares of the exchange traded fund's stock after purchasing an additional 3,822 shares during the quarter. Invesco QQQ comprises approximately 9.0% of Focused Wealth Management Inc's holdings, making the stock its 3rd largest position. Focused Wealth Management Inc's holdings in Invesco QQQ were worth $66,329,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Eagle Capital Management LLC increased its stake in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Invesco QQQ by 3.1% in the 4th quarter. Proficio Capital Partners LLC now owns 23,065 shares of the exchange traded fund's stock worth $11,791,000 after purchasing an additional 687 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in shares of Invesco QQQ by 20.0% in the 4th quarter. Great Lakes Advisors LLC now owns 3,028 shares of the exchange traded fund's stock worth $1,548,000 after purchasing an additional 504 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 0.2%

Shares of NASDAQ:QQQ traded down $1.25 during midday trading on Friday, hitting $554.20. The company had a trading volume of 39,558,757 shares, compared to its average volume of 39,410,561. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.63. The company has a fifty day moving average of $527.06 and a two-hundred day moving average of $505.91.

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 paid a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.