Kovitz Investment Group Partners LLC Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Kovitz Investment Group Partners LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,384 shares of the exchange traded fund's stock after selling 6,920 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Invesco QQQ were worth $27,378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the first quarter worth about $2,775,904,000. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after buying an additional 54,944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after buying an additional 568,120 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $579.89 on Friday. The company's 50-day moving average price is $553.18 and its 200-day moving average price is $513.78. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.