KFG Wealth Management LLC Sells 3,425 Shares of Invesco QQQ (NASDAQ:QQQ)

KFG Wealth Management LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,280 shares of the exchange traded fund's stock after selling 3,425 shares during the quarter. Invesco QQQ makes up 2.2% of KFG Wealth Management LLC's investment portfolio, making the stock its 12th largest holding. KFG Wealth Management LLC's holdings in Invesco QQQ were worth $11,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Disciplined Investments LLC boosted its position in shares of Invesco QQQ by 10.0% during the first quarter. Disciplined Investments LLC now owns 2,850 shares of the exchange traded fund's stock valued at $1,336,000 after buying an additional 260 shares during the last quarter. Horizon Wealth Management LLC lifted its holdings in Invesco QQQ by 4.9% in the first quarter. Horizon Wealth Management LLC now owns 129,329 shares of the exchange traded fund's stock valued at $60,645,000 after acquiring an additional 5,988 shares during the period. Fortress Financial Group LLC lifted its holdings in Invesco QQQ by 2.0% in the first quarter. Fortress Financial Group LLC now owns 5,943 shares of the exchange traded fund's stock valued at $2,787,000 after acquiring an additional 115 shares during the period. First National Corp MA ADV lifted its holdings in Invesco QQQ by 0.9% in the first quarter. First National Corp MA ADV now owns 16,914 shares of the exchange traded fund's stock valued at $7,931,000 after acquiring an additional 151 shares during the period. Finally, Sovereign Financial Group Inc. lifted its holdings in Invesco QQQ by 0.8% in the first quarter. Sovereign Financial Group Inc. now owns 35,491 shares of the exchange traded fund's stock valued at $16,643,000 after acquiring an additional 296 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $529.92 on Friday. The business's 50-day moving average is $483.20 and its two-hundred day moving average is $501.88. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company has a market cap of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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.

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