First Heartland Consultants Inc. Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• First Heartland Consultants Inc. reduced its stake in Invesco QQQ by 34.3%, leaving them with 41,613 shares valued at $19.5 million.
• Significant increases in holdings were reported by other firms, including NWI Management LP with a 121.6% increase, now owning 648,000 shares valued at $331.3 million.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, representing a yield of 0.42%.

First Heartland Consultants Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 34.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,613 shares of the exchange traded fund's stock after selling 21,736 shares during the period. Invesco QQQ accounts for approximately 2.0% of First Heartland Consultants Inc.'s portfolio, making the stock its 8th biggest position. First Heartland Consultants Inc.'s holdings in Invesco QQQ were worth $19,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Fischer Financial Services Inc. boosted its position in Invesco QQQ by 2.4% during the first quarter. Fischer Financial Services Inc. now owns 28,782 shares of the exchange traded fund's stock valued at $13,497,000 after purchasing an additional 668 shares during the last quarter. Phoenix Financial Ltd. raised its holdings in Invesco QQQ by 35.9% during the first quarter. Phoenix Financial Ltd. now owns 136,961 shares of the exchange traded fund's stock valued at $64,284,000 after buying an additional 36,201 shares in the last quarter. Stevens Capital Management LP bought a new position in Invesco QQQ during the first quarter valued at about $5,878,000. AM Investment Strategies LLC raised its holdings in Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock valued at $904,000 after buying an additional 612 shares in the last quarter. Finally, Caliber Wealth Management LLC KS bought a new position in Invesco QQQ during the first quarter valued at about $13,939,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $1.36 during trading on Friday, hitting $566.37. 30,579,821 shares of the company traded hands, compared to its average volume of 40,473,144. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $567.70. The business has a fifty day simple moving average of $539.14 and a 200 day simple moving average of $508.84.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 0.42%.

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.