Activest Wealth Management Has $16.09 Million Position in Invesco QQQ $QQQ

Key Points

• Activest Wealth Management reduced its stake in Invesco QQQ by 4.2%, now holding 34,304 shares valued at approximately $16.1 million, making it their 6th largest position.
• Invesco QQQ has experienced a 1.2% decline recently, with shares trading at $570.40, having a 1-year low of $402.39 and a high of $583.32.
• The company has announced a dividend of $0.5911, translating to an annual yield of 0.4%, along with recent increases in holdings by other institutional investors.

Activest Wealth Management trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,304 shares of the exchange traded fund's stock after selling 1,497 shares during the period. Invesco QQQ comprises about 4.3% of Activest Wealth Management's investment portfolio, making the stock its 6th biggest position. Activest Wealth Management's holdings in Invesco QQQ were worth $16,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Eagle Capital Management LLC boosted its position in Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after buying an additional 185 shares in the last quarter. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares in the last quarter. First Trust Advisors LP acquired a new position in Invesco QQQ in the fourth quarter valued at about $610,000. Finally, AQR Capital Management LLC boosted its position in Invesco QQQ by 122.6% in the fourth quarter. AQR Capital Management LLC now owns 86,832 shares of the exchange traded fund's stock valued at $44,391,000 after buying an additional 47,821 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $6.68 on Friday, reaching $570.40. The stock had a trading volume of 55,870,652 shares, compared to its average volume of 44,778,712. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $583.32. The stock has a fifty day moving average price of $562.24 and a 200-day moving average price of $517.17.

Invesco QQQ Cuts Dividend

The business also recently announced 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 of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.