Invesco QQQ (NASDAQ:QQQ) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,584 shares of the exchange traded fund's stock after selling 9,361 shares during the quarter. Invesco QQQ makes up 4.0% of Western Wealth Management LLC's portfolio, making the stock its largest holding. Western Wealth Management LLC's holdings in Invesco QQQ were worth $60,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in 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 acquiring an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. raised its stake in 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 acquiring an additional 756,990 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in 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 acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in 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 acquiring an additional 52,235 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 568,120 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $1.87 during mid-day trading on Friday, hitting $548.09. 57,440,636 shares of the company were exchanged, compared to its average volume of 38,990,495. The business has a fifty day moving average of $509.76 and a 200 day moving average of $504.06. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $549.90.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid 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 0.43%.

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.