Merkkuri Wealth Advisors LLC Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Merkkuri Wealth Advisors LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,806 shares of the exchange traded fund's stock after selling 3,085 shares during the period. Invesco QQQ comprises about 3.5% of Merkkuri Wealth Advisors LLC's investment portfolio, making the stock its 7th biggest position. Merkkuri Wealth Advisors LLC's holdings in Invesco QQQ were worth $4,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in QQQ. Tallon Kerry Patrick purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $4,904,000. Naviter Wealth LLC boosted its stake in shares of Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock valued at $675,000 after purchasing an additional 107 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of 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 valued at $31,025,000 after purchasing an additional 185 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $14,209,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Shares of Invesco QQQ stock opened at $526.83 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a fifty day moving average of $500.57 and a 200-day moving average of $503.28.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.