Napatree Capital LLC Sells 501 Shares of Invesco QQQ (NASDAQ:QQQ)

Napatree Capital LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,698 shares of the exchange traded fund's stock after selling 501 shares during the quarter. Invesco QQQ accounts for about 1.5% of Napatree Capital LLC's holdings, making the stock its 14th biggest holding. Napatree Capital LLC's holdings in Invesco QQQ were worth $2,672,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allen Capital Group LLC purchased a new position in shares of Invesco QQQ in the first quarter worth $253,000. Wealthgarden F.S. LLC increased its position in Invesco QQQ by 6.5% during the 1st quarter. Wealthgarden F.S. LLC now owns 1,974 shares of the exchange traded fund's stock valued at $926,000 after purchasing an additional 120 shares during the period. Postrock Partners LLC increased its position in Invesco QQQ by 15.3% during the 1st quarter. Postrock Partners LLC now owns 497 shares of the exchange traded fund's stock valued at $233,000 after purchasing an additional 66 shares during the period. Summit X LLC increased its position in Invesco QQQ by 7.7% during the 1st quarter. Summit X LLC now owns 6,892 shares of the exchange traded fund's stock valued at $3,231,000 after purchasing an additional 491 shares during the period. Finally, SeaBridge Investment Advisors LLC increased its position in Invesco QQQ by 1.6% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 6,283 shares of the exchange traded fund's stock valued at $2,946,000 after purchasing an additional 96 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.8%

Invesco QQQ stock traded up $4.51 during mid-day trading on Thursday, reaching $561.80. 39,511,392 shares of the company traded hands, compared to its average volume of 39,563,778. The firm's 50 day moving average price is $531.45 and its 200 day moving average price is $506.52. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $562.24.

Invesco QQQ Cuts Dividend

The firm 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 $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.