Mattern Wealth Management LLC Sells 2,070 Shares of Invesco QQQ (NASDAQ:QQQ)

Mattern Wealth Management LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,822 shares of the exchange traded fund's stock after selling 2,070 shares during the period. Invesco QQQ comprises about 2.9% of Mattern Wealth Management LLC's portfolio, making the stock its 10th largest holding. Mattern Wealth Management LLC's holdings in Invesco QQQ were worth $13,046,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. Tallon Kerry Patrick acquired a new stake in Invesco QQQ during the 4th quarter valued at $4,904,000. Naviter Wealth LLC raised its position in Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after buying an additional 107 shares during the period. Eagle Capital Management LLC lifted its stake in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares in the last quarter. Brighton Jones LLC lifted its stake in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

NASDAQ:QQQ traded up $1.87 on Friday, hitting $548.09. 57,440,636 shares of the company's stock traded hands, compared to its average volume of 38,990,169. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $549.99. The firm has a 50-day moving average price of $509.76 and a 200-day moving average price of $504.06.

Invesco QQQ Cuts Dividend

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