McElhenny Sheffield Capital Management LLC Has $1.74 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

McElhenny Sheffield Capital Management LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 27.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,714 shares of the exchange traded fund's stock after acquiring an additional 807 shares during the period. Invesco QQQ accounts for 0.7% of McElhenny Sheffield Capital Management LLC's portfolio, making the stock its 12th largest position. McElhenny Sheffield Capital Management LLC's holdings in Invesco QQQ were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in QQQ. HighMark Wealth Management LLC raised its stake in Invesco QQQ by 5.2% in the 4th quarter. HighMark Wealth Management LLC now owns 407 shares of the exchange traded fund's stock valued at $208,000 after acquiring an additional 20 shares during the period. Providence First Trust Co raised its stake in Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock valued at $346,000 after acquiring an additional 20 shares during the period. Diversified Enterprises LLC grew its holdings in Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock valued at $2,679,000 after buying an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC grew its holdings 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 buying an additional 20 shares in the last quarter. Finally, Legacy Investment Solutions LLC grew its holdings in Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after buying an additional 20 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ traded down $6.70 on Friday, reaching $526.96. The stock had a trading volume of 55,743,632 shares, compared to its average volume of 38,429,078. The firm has a fifty day moving average of $492.58 and a two-hundred day moving average of $502.75. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The company has a market cap of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.