Oppenheimer Asset Management Inc. Sells 2,272 Shares of Invesco QQQ (NASDAQ:QQQ)

Oppenheimer Asset Management Inc. lowered its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,276 shares of the exchange traded fund's stock after selling 2,272 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Invesco QQQ were worth $25,451,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 756,990 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after purchasing an additional 52,235 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 568,120 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $8.13 during mid-day trading on Tuesday, reaching $539.78. 45,312,930 shares of the company's stock were exchanged, compared to its average volume of 38,714,611. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The business's fifty day moving average price is $503.69 and its 200-day moving average price is $503.45.

Invesco QQQ Cuts Dividend

The company also recently announced 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 of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.44%.

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.