Assetmark Inc. Sells 839 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Assetmark Inc. reduced its holdings in Invesco QQQ by 3.0%, owning 27,535 shares valued at approximately $12.9 million as of the latest SEC filing.
• Several other hedge funds increased their positions in Invesco QQQ, with Prevail Innovative Wealth Advisors raising its stake by 4.3% in the fourth quarter.
• Invesco QQQ is currently priced at $566.37 and recently announced a quarterly dividend of $0.5911 per share, reflecting an annualized yield of 0.42%.

Assetmark Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,535 shares of the exchange traded fund's stock after selling 839 shares during the period. Assetmark Inc.'s holdings in Invesco QQQ were worth $12,912,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QQQ. NWI Management LP grew its holdings in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of Invesco QQQ during the 4th quarter worth $679,936,000. Spear Holdings RSC Ltd acquired a new stake in shares of Invesco QQQ during the 1st quarter worth $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its holdings in shares of Invesco QQQ by 100,517.9% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after purchasing an additional 931,801 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $0.92 during mid-day trading on Wednesday, reaching $568.18. 8,584,919 shares of the stock traded hands, compared to its average volume of 44,412,293. The stock's fifty day simple moving average is $541.00 and its two-hundred day simple moving average is $509.58. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $572.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

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.