J. Safra Sarasin Holding AG Sells 4,223 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Invesco QQQ by 37.3%, now holding 7,088 shares valued at approximately $3,324,000.
• Several institutional investors recently acquired new stakes in Invesco QQQ, indicating ongoing interest in the fund despite J. Safra Sarasin's divestment.
• Invesco QQQ shares are currently priced at $553.88, with a 52-week range of $402.39 to $574.63, showcasing significant volatility in the market.

J. Safra Sarasin Holding AG reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 37.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,088 shares of the exchange traded fund's stock after selling 4,223 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Invesco QQQ were worth $3,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in Invesco QQQ in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.8%

Shares of QQQ stock traded up $10.22 during mid-day trading on Monday, hitting $564.10. The company's stock had a trading volume of 47,445,916 shares, compared to its average volume of 43,611,480. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63. The business has a 50-day moving average price of $544.01 and a 200 day moving average price of $510.67.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend 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.