Legacy Capital Wealth Partners LLC Sells 475 Shares of Invesco QQQ (NASDAQ:QQQ)

Legacy Capital Wealth Partners LLC cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,201 shares of the exchange traded fund's stock after selling 475 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Invesco QQQ were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ during the 4th quarter worth about $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1%

Invesco QQQ stock traded down $0.54 during midday trading on Friday, hitting $561.26. 50,428,921 shares of the company's stock were exchanged, compared to its average volume of 39,544,174. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $563.36. The firm has a 50-day moving average of $532.92 and a two-hundred day moving average of $506.84.

Invesco QQQ Cuts Dividend

The firm also recently announced 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. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.