Life Line Wealth Management LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Life Line Wealth Management LLC lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 89.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,842 shares of the exchange traded fund's stock after selling 95,801 shares during the quarter. Invesco QQQ accounts for approximately 2.0% of Life Line Wealth Management LLC's portfolio, making the stock its 8th largest holding. Life Line Wealth Management LLC's holdings in Invesco QQQ were worth $5,553,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after buying an additional 756,990 shares during the period. PNC Financial Services Group Inc. boosted its position in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after buying an additional 27,115 shares during the period. Commonwealth Equity Services LLC boosted its position in Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after buying an additional 52,235 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the period. Finally, GAMMA Investing LLC boosted its position in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $548.09 on Friday. The company has a 50-day simple moving average of $509.76 and a two-hundred day simple moving average of $503.88. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $549.99.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given 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 yield of 0.43%.

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.

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.