Invesco QQQ (NASDAQ:QQQ) Shares Sold by WFA Asset Management Corp

WFA Asset Management Corp lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 42.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,577 shares of the exchange traded fund's stock after selling 3,331 shares during the quarter. Invesco QQQ accounts for about 1.2% of WFA Asset Management Corp's portfolio, making the stock its 14th largest holding. WFA Asset Management Corp's holdings in Invesco QQQ were worth $2,032,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. PayPay Securities Corp boosted its stake in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.0%

Shares of NASDAQ QQQ opened at $529.92 on Monday. The firm has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The company's 50-day simple moving average is $483.20 and its 200-day simple moving average is $501.85. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.