Harbour Investments Inc. Sells 6,455 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Harbour Investments Inc. reduced its stake in Invesco QQQ by 2.6%, holding 237,684 shares worth approximately $111.5 million, making it their second largest investment.
• Several other hedge funds also adjusted their positions, with Brighton Jones LLC increasing its holdings by 15.0% and Nemes Rush Group LLC increasing by 59.6% in the fourth quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, with an annualized yield of 0.42% set to be paid on July 31st.

Harbour Investments Inc. reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,684 shares of the exchange traded fund's stock after selling 6,455 shares during the period. Invesco QQQ comprises about 3.2% of Harbour Investments Inc.'s holdings, making the stock its 2nd largest holding. Harbour Investments Inc.'s holdings in Invesco QQQ were worth $111,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. NWI Management LP boosted its holdings in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Senator Investment Group LP purchased a new position in Invesco QQQ in the fourth quarter valued at $679,936,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter valued at $474,600,000. Finally, Asset Planning Services Inc. LA ADV boosted its holdings in Invesco QQQ by 100,517.9% in the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock valued at $437,375,000 after purchasing an additional 931,801 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.0%

Invesco QQQ stock traded down $11.13 during midday trading on Friday, reaching $553.88. The company's stock had a trading volume of 69,290,965 shares, compared to its average volume of 44,970,789. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63. The business has a 50-day simple moving average of $543.12 and a 200-day simple moving average of $510.39.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

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.