BKM Wealth Management LLC Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

BKM Wealth Management LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,039 shares of the exchange traded fund's stock after selling 466 shares during the quarter. Invesco QQQ accounts for about 1.9% of BKM Wealth Management LLC's portfolio, making the stock its 8th largest position. BKM Wealth Management LLC's holdings in Invesco QQQ were worth $4,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares during the period. Price T Rowe Associates Inc. MD grew its position in Invesco QQQ by 34.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after purchasing an additional 568,120 shares during the period. GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Invesco QQQ by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock valued at $629,680,000 after purchasing an additional 14,017 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in Invesco QQQ in the 4th quarter valued at $679,936,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.4%

Shares of Invesco QQQ stock traded down $2.43 during trading hours on Tuesday, hitting $561.74. 32,813,843 shares of the company's stock traded hands, compared to its average volume of 39,475,242. The company has a fifty day simple moving average of $534.38 and a 200-day simple moving average of $507.13. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $566.06.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.