Leo Wealth LLC Has $4.05 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Leo Wealth LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 68.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,628 shares of the exchange traded fund's stock after selling 18,774 shares during the period. Leo Wealth LLC's holdings in Invesco QQQ were worth $4,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Prevail Innovative Wealth Advisors LLC lifted its position in Invesco QQQ by 4.3% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after acquiring an additional 20 shares in the last quarter. Legacy Investment Solutions LLC lifted its position in Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in Invesco QQQ by 0.3% during 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 in the last quarter. Willis Johnson & Associates Inc. increased its stake in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the last quarter. Finally, MTM Investment Management LLC increased its stake in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.8%

Shares of Invesco QQQ stock traded up $4.44 during trading on Thursday, hitting $561.73. 20,450,372 shares of the stock were exchanged, compared to its average volume of 39,491,561. The company has a fifty day moving average price of $531.45 and a 200-day moving average price of $506.52. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $562.17.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.