Elm3 Financial Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,088 shares of the exchange traded fund's stock after selling 2,004 shares during the period. Invesco QQQ makes up about 3.3% of Elm3 Financial Group LLC's investment portfolio, making the stock its 9th largest holding. Elm3 Financial Group LLC's holdings in Invesco QQQ were worth $3,793,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at about $36,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ in the 4th quarter valued at approximately $57,000. Institutional investors own 44.58% of the company's stock.
Invesco QQQ Stock Down 0.1%
Shares of QQQ stock opened at $560.87 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $566.06. The firm's 50-day simple moving average is $534.38 and its two-hundred day simple moving average is $507.13.
Invesco QQQ Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.
Invesco QQQ Company Profile
(
Free Report)
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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