Invst LLC Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Invst LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,268 shares of the exchange traded fund's stock after selling 2,419 shares during the quarter. Invesco QQQ makes up 2.8% of Invst LLC's investment portfolio, making the stock its 8th largest position. Invst LLC's holdings in Invesco QQQ were worth $23,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Proficio Capital Partners LLC grew its stake in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after buying an additional 27,115 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $0.04 during trading on Wednesday, reaching $521.26. The company had a trading volume of 17,837,608 shares, compared to its average volume of 37,329,542. The company has a market cap of $326.65 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm's fifty day moving average is $476.24 and its 200-day moving average is $500.91.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

About Invesco QQQ

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.