Next Capital Management LLC Sells 833 Shares of Invesco QQQ (NASDAQ:QQQ)

Next Capital Management LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,771 shares of the exchange traded fund's stock after selling 833 shares during the quarter. Invesco QQQ accounts for about 4.9% of Next Capital Management LLC's holdings, making the stock its 2nd biggest holding. Next Capital Management LLC's holdings in Invesco QQQ were worth $10,209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after purchasing an additional 20 shares in the last quarter. Legacy Investment Solutions LLC raised its stake in shares of 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 acquiring an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. raised its stake in shares of Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after acquiring an additional 21 shares in the last quarter. Finally, MTM Investment Management LLC raised its stake in shares of Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.2%

Shares of QQQ stock traded up $1.36 during trading on Friday, reaching $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. The firm's 50 day simple moving average is $539.14 and its two-hundred day simple moving average is $508.84. Invesco QQQ has a one year low of $402.39 and a one year high of $567.70.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid 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 of this dividend is 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.