Invesco QQQ (NASDAQ:QQQ) Position Cut by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,372 shares of the exchange traded fund's stock after selling 646 shares during the quarter. Invesco QQQ accounts for approximately 1.4% of Klingenstein Fields & Co. LP's holdings, making the stock its 23rd largest position. Klingenstein Fields & Co. LP's holdings in Invesco QQQ were worth $33,937,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ during the 4th quarter worth $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded up $3.81 during mid-day trading on Wednesday, reaching $550.80. The company had a trading volume of 36,407,364 shares, compared to its average volume of 39,147,734. Invesco QQQ has a one year low of $402.39 and a one year high of $552.80. The stock's 50-day simple moving average is $514.18 and its two-hundred day simple moving average is $504.17.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.