Noble Wealth Management PBC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Noble Wealth Management PBC lowered its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,139 shares of the exchange traded fund's stock after selling 623 shares during the period. Invesco QQQ comprises about 1.6% of Noble Wealth Management PBC's investment portfolio, making the stock its 14th biggest position. Noble Wealth Management PBC's holdings in Invesco QQQ were worth $2,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in shares of Invesco QQQ by 51,292.3% in the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the period. NWI Management LP increased its holdings in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC increased its position in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the last quarter. Senator Investment Group LP bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC grew its stake in Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock worth $423,470,000 after purchasing an additional 895,277 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ traded up $1.25 on Thursday, hitting $533.66. The company had a trading volume of 33,939,410 shares, compared to its average volume of 38,249,587. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The stock has a market capitalization of $334.42 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The stock has a fifty day moving average price of $488.16 and a 200-day moving average price of $502.45.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.