WT Wealth Management Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

WT Wealth Management trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,778 shares of the exchange traded fund's stock after selling 677 shares during the period. WT Wealth Management's holdings in Invesco QQQ were worth $1,772,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Arrow Financial Corp increased its stake in shares of Invesco QQQ by 1.1% during the first quarter. Arrow Financial Corp now owns 158,151 shares of the exchange traded fund's stock worth $74,160,000 after acquiring an additional 1,693 shares during the period. Crestwood Advisors Group LLC lifted its position in Invesco QQQ by 9.6% in the first quarter. Crestwood Advisors Group LLC now owns 25,636 shares of the exchange traded fund's stock valued at $12,021,000 after purchasing an additional 2,254 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Invesco QQQ by 1.4% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 21,865 shares of the exchange traded fund's stock valued at $10,249,000 after purchasing an additional 304 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new stake in Invesco QQQ in the 1st quarter valued at approximately $271,000. Finally, Peregrine Asset Advisers Inc. increased its position in Invesco QQQ by 7.4% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 4,198 shares of the exchange traded fund's stock worth $1,968,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.5%

Shares of NASDAQ QQQ traded down $2.92 during midday trading on Tuesday, hitting $561.25. The company had a trading volume of 42,884,164 shares, compared to its average volume of 39,510,112. The business has a 50-day simple moving average of $534.38 and a two-hundred day simple moving average of $507.13. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $566.06.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. 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.