Stephens Inc. AR Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Stephens Inc. AR lowered its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,753 shares of the exchange traded fund's stock after selling 9,879 shares during the period. Invesco QQQ accounts for about 1.8% of Stephens Inc. AR's holdings, making the stock its 4th largest holding. Stephens Inc. AR's holdings in Invesco QQQ were worth $123,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Diversified Enterprises LLC boosted its position in Invesco QQQ by 0.4% during the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock valued at $2,679,000 after purchasing an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its position in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after purchasing an additional 20 shares during the period. Legacy Investment Solutions LLC boosted its position in Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after purchasing an additional 20 shares during the period. Finally, Willis Johnson & Associates Inc. boosted its position in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.2%

NASDAQ:QQQ traded up $1.24 during midday trading on Monday, reaching $555.44. 14,450,391 shares of the company traded hands, compared to its average volume of 39,326,332. The company has a fifty day moving average price of $527.06 and a 200 day moving average price of $505.58. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $557.63.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.