Marco Investment Management LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Marco Investment Management LLC reduced its holdings in Invesco QQQ by 8.9%, selling 688 shares and now owning 7,063 shares valued at approximately $3.31 million.
• Several institutional investors, including Ameriprise Financial and Price T Rowe Associates, increased their positions in Invesco QQQ, indicating growing interest in the ETF.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, which translates to an annualized dividend of $2.36 and a yield of 0.42%.

Marco Investment Management LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,063 shares of the exchange traded fund's stock after selling 688 shares during the quarter. Marco Investment Management LLC's holdings in Invesco QQQ were worth $3,312,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter worth approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the first quarter worth approximately $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded down $10.01 during trading hours on Friday, hitting $555.00. The company had a trading volume of 52,224,848 shares, compared to its average volume of 44,844,754. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $574.63. The stock has a 50-day moving average price of $543.12 and a 200 day moving average price of $510.39.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis 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.