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

Mattern Wealth Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,822 shares of the exchange traded fund's stock after selling 2,070 shares during the quarter. Invesco QQQ makes up about 2.9% of Mattern Wealth Management LLC's investment portfolio, making the stock its 10th biggest position. Mattern Wealth Management LLC's holdings in Invesco QQQ were worth $13,046,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $36,000. Banque Transatlantique SA acquired a new position in shares of Invesco QQQ during the fourth quarter worth approximately $57,000. Perritt Capital Management Inc bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $61,000. Finally, Frazier Financial Advisors LLC increased its holdings in shares of Invesco QQQ by 1,288.9% in the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $539.78 on Wednesday. The company has a 50 day moving average price of $503.69 and a 200 day moving average price of $503.45. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.44%.

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.

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