Invesco QQQ (NASDAQ:QQQ) Stake Lowered by Tanglewood Wealth Management Inc.

Tanglewood Wealth Management Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,240 shares of the exchange traded fund's stock after selling 12,861 shares during the period. Invesco QQQ comprises approximately 4.2% of Tanglewood Wealth Management Inc.'s holdings, making the stock its 7th largest holding. Tanglewood Wealth Management Inc.'s holdings in Invesco QQQ were worth $37,626,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QQQ. PayPay Securities Corp increased its stake in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the fourth quarter valued at about $36,000. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $529.92 on Monday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The stock's 50-day moving average is $483.20 and its 200 day moving average is $501.85. The company has a market cap of $332.07 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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.

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