Morling Financial Advisors LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 58.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 433 shares of the exchange traded fund's stock after selling 621 shares during the quarter. Morling Financial Advisors LLC's holdings in Invesco QQQ were worth $203,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.
Invesco QQQ Stock Performance
Shares of QQQ traded up $1.20 during midday trading on Thursday, hitting $565.01. The company had a trading volume of 42,156,201 shares, compared to its average volume of 40,549,944. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $566.24. The company's 50-day simple moving average is $538.24 and its 200-day simple moving average is $508.49.
Invesco QQQ Cuts Dividend
The firm 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 $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.
About Invesco QQQ
(
Free Report)
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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