Invesco QQQ (NASDAQ:QQQ) Stake Reduced by Trademark Financial Management LLC

Trademark Financial Management LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,799 shares of the exchange traded fund's stock after selling 520 shares during the quarter. Invesco QQQ accounts for 5.3% of Trademark Financial Management LLC's holdings, making the stock its 2nd largest holding. Trademark Financial Management LLC's holdings in Invesco QQQ were worth $6,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ QQQ opened at $548.09 on Monday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $552.23. The stock has a fifty day simple moving average of $509.76 and a 200-day simple moving average of $503.72.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a 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.

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.