Invesco QQQ (NASDAQ:QQQ) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,052 shares of the exchange traded fund's stock after selling 3,703 shares during the quarter. Invesco QQQ makes up approximately 0.5% of Elite Wealth Management Inc.'s portfolio, making the stock its 15th biggest position. Elite Wealth Management Inc.'s holdings in Invesco QQQ were worth $3,776,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after buying an additional 568,120 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Invesco QQQ by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock worth $629,680,000 after buying an additional 14,017 shares in the last quarter. Finally, Senator Investment Group LP acquired a new position in shares of Invesco QQQ during the fourth quarter worth about $679,936,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $554.20 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $557.63. The business has a 50-day simple moving average of $527.06 and a 200-day simple moving average of $505.58.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Company 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.

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