Southland Equity Partners LLC Sells 800 Shares of Invesco QQQ (NASDAQ:QQQ)

Southland Equity Partners LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,502 shares of the exchange traded fund's stock after selling 800 shares during the quarter. Invesco QQQ accounts for about 1.3% of Southland Equity Partners LLC's investment portfolio, making the stock its 20th largest position. Southland Equity Partners LLC's holdings in Invesco QQQ were worth $5,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. HighMark Wealth Management LLC increased its stake in shares of Invesco QQQ by 5.2% during the fourth quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after acquiring an additional 20 shares during the period. Providence First Trust Co boosted its stake in Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock worth $346,000 after purchasing an additional 20 shares during the period. Diversified Enterprises LLC boosted its stake in Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after purchasing an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after buying an additional 20 shares during the period. Finally, Legacy Investment Solutions LLC boosted its stake in shares of Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after buying an additional 20 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $6.70 during midday trading on Friday, reaching $526.96. 55,743,632 shares of the company's stock traded hands, compared to its average volume of 38,368,792. The company has a market cap of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The company's 50 day simple moving average is $492.58 and its 200 day simple moving average is $502.76. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

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

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.