Parker Investment Management LLC Sells 3,043 Shares of Invesco QQQ (NASDAQ:QQQ)

Parker Investment Management LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,264 shares of the exchange traded fund's stock after selling 3,043 shares during the period. Invesco QQQ makes up approximately 16.2% of Parker Investment Management LLC's portfolio, making the stock its largest position. Parker Investment Management LLC's holdings in Invesco QQQ were worth $91,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NWI Management LP lifted its position in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC raised its stake in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Senator Investment Group LP acquired a new stake in Invesco QQQ during the 4th quarter worth $679,936,000. Spear Holdings RSC Ltd acquired a new stake in Invesco QQQ during the 1st quarter worth $474,600,000. Finally, Asset Planning Services Inc. LA ADV raised its stake in Invesco QQQ by 100,517.9% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after acquiring an additional 931,801 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $4.51 during midday trading on Thursday, hitting $561.80. 40,157,109 shares of the company were exchanged, compared to its average volume of 39,499,059. The company has a fifty day simple moving average of $532.92 and a 200 day simple moving average of $506.84. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $562.31.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

Invesco QQQ 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.