Invesco QQQ $QQQ Stake Reduced by Apexium Financial LP

Key Points

• Apexium Financial LP reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 2.5%, now holding 192,289 shares valued at approximately $90 million.
• Invesco QQQ's share price opened at $571.97 and has a 52-week range from $402.39 to $583.32.
• The recent quarterly dividend paid to shareholders was $0.5911, yielding around 0.4% annually.

Apexium Financial LP reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,289 shares of the exchange traded fund's stock after selling 4,867 shares during the quarter. Invesco QQQ makes up about 5.4% of Apexium Financial LP's holdings, making the stock its 4th biggest holding. Apexium Financial LP's holdings in Invesco QQQ were worth $90,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares during the period. Willis Johnson & Associates Inc. grew its position in shares of Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares during the period. MTM Investment Management LLC grew its position in shares of Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after buying an additional 21 shares during the period. Cutler Investment Counsel LLC grew its position in shares of Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after buying an additional 21 shares during the period. Finally, Mosaic Family Wealth Partners LLC grew its position in shares of Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after buying an additional 22 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.2%

Shares of NASDAQ:QQQ traded up $0.88 during midday trading on Wednesday, reaching $573.49. The company's stock had a trading volume of 36,533,550 shares, compared to its average volume of 44,854,281. The firm has a 50 day moving average of $559.52 and a 200-day moving average of $516.36. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given 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 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.