NFP Retirement Inc. Sells 520 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• NFP Retirement Inc. reduced its stake in Invesco QQQ by 0.9%, owning 56,365 shares valued at $26.4 million after selling 520 shares.
• Several institutional investors, including Baird Financial Group Inc. and Wilkins Miller Wealth Management LLC, have recently altered their stakes in Invesco QQQ, reflecting a growing interest in the ETF.
• Invesco QQQ has a current price of $580.05, with a 52-week high of $580.35 and a recent quarterly dividend of $0.5911 per share.

NFP Retirement Inc. cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,365 shares of the exchange traded fund's stock after selling 520 shares during the quarter. Invesco QQQ makes up about 2.1% of NFP Retirement Inc.'s portfolio, making the stock its 11th largest position. NFP Retirement Inc.'s holdings in Invesco QQQ were worth $26,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the first quarter valued at $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ in the fourth quarter valued at $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 0.1%

Shares of Invesco QQQ stock traded down $0.45 during trading hours on Thursday, reaching $579.89. The company's stock had a trading volume of 45,140,701 shares, compared to its average volume of 43,788,920. The stock's fifty day simple moving average is $552.08 and its two-hundred day simple moving average is $513.33. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32.

Invesco QQQ Cuts Dividend

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

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.