Harvest Fund Management Co. Ltd Has $83,000 Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Harvest Fund Management Co. Ltd reduced its holdings in Invesco QQQ by 72.2%, selling 460 shares and retaining only 177 shares valued at $83,000.
• Other institutional investors, such as Eagle Capital Management and Brighton Jones LLC, diversified their positions in the fund, with Eagle increasing its stake by 0.3% and Brighton by 15.0%.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Harvest Fund Management Co. Ltd reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 72.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177 shares of the exchange traded fund's stock after selling 460 shares during the period. Harvest Fund Management Co. Ltd's holdings in Invesco QQQ were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of QQQ. Eagle Capital Management LLC raised its holdings in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares in the last quarter. Brighton Jones LLC increased its position in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Invesco QQQ by 1.9% in the 4th quarter. Alliancebernstein L.P. now owns 91,693 shares of the exchange traded fund's stock valued at $46,876,000 after buying an additional 1,686 shares during the last quarter. Finally, Disciplined Investors L.L.C. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $343,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded down $11.13 during trading on Friday, reaching $553.88. 69,290,965 shares of the stock were exchanged, compared to its average volume of 40,141,440. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63. The stock's 50 day moving average price is $543.12 and its two-hundred day moving average price is $510.39.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.