Olde Wealth Management LLC Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

Olde Wealth Management LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 45.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,255 shares of the exchange traded fund's stock after selling 10,909 shares during the period. Invesco QQQ accounts for about 2.2% of Olde Wealth Management LLC's portfolio, making the stock its 10th biggest position. Olde Wealth Management LLC's holdings in Invesco QQQ were worth $6,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $815,000. Tandem Investment Partners LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $4,623,000. Gemsstock Ltd. boosted its holdings in shares of Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its holdings in shares of Invesco QQQ by 1.8% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.9%

Shares of QQQ stock opened at $555.88 on Friday. The stock's fifty day moving average price is $519.53 and its two-hundred day moving average price is $504.75. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.20.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

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.

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