MSH Capital Advisors LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• MSH Capital Advisors LLC reduced its shareholding in Invesco QQQ by 11.5% in the first quarter, now holding 4,366 shares valued at approximately $2,047,000.
• Invesco QQQ shares have experienced a 1.3% increase recently, opening at $580.05, while marking a 12-month low of $402.39 and a high of $580.35.
• The fund recently declared a quarterly dividend of $0.5911 per share, translating to an annual yield of 0.4%.

MSH Capital Advisors LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,366 shares of the exchange traded fund's stock after selling 567 shares during the period. MSH Capital Advisors LLC's holdings in Invesco QQQ were worth $2,047,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the first quarter valued at about $2,775,904,000. Ameriprise Financial Inc. grew its position in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after buying an additional 756,990 shares during the period. Commonwealth Equity Services LLC grew its position in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after buying an additional 54,944 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after buying an additional 568,120 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ traded down $2.55 during trading on Friday, hitting $577.34. 49,393,990 shares of the company traded hands, compared to its average volume of 44,038,980. The stock's fifty day moving average is $554.13 and its 200 day moving average is $514.17. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

About Invesco QQQ

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.