Oppenheimer & Co. Inc. Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Oppenheimer & Co. Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,209 shares of the exchange traded fund's stock after selling 8,049 shares during the quarter. Invesco QQQ makes up 0.9% of Oppenheimer & Co. Inc.'s portfolio, making the stock its 15th largest holding. Oppenheimer & Co. Inc.'s holdings in Invesco QQQ were worth $59,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilkins Miller Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth $1,018,000. Synergy Investment Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth $723,000. Grant Private Wealth Management Inc purchased a new position in shares of Invesco QQQ during the 4th quarter worth $815,000. Tandem Investment Partners LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth $4,623,000. Finally, Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after acquiring an additional 213,400 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.9%

Shares of Invesco QQQ stock opened at $531.65 on Tuesday. The company's fifty day simple moving average is $502.05 and its 200-day simple moving average is $503.19. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.44%.

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.

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