Smart Money Group LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 95.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,639 shares of the exchange traded fund's stock after selling 58,958 shares during the period. Invesco QQQ makes up about 1.1% of Smart Money Group LLC's investment portfolio, making the stock its 20th largest position. Smart Money Group LLC's holdings in Invesco QQQ were worth $1,238,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of QQQ. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the first quarter worth $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $57,000. 44.58% of the stock is owned by institutional investors and hedge funds.
Invesco QQQ Stock Performance
Shares of NASDAQ:QQQ opened at $568.14 on Tuesday. The business has a 50 day moving average price of $540.06 and a 200 day moving average price of $509.18. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $569.04.
Invesco QQQ Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.42%.
About Invesco QQQ
(
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.
Read More
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).
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