Invesco QQQ (NASDAQ:QQQ) Stock Position Trimmed by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,209 shares of the exchange traded fund's stock after selling 8,049 shares during the period. Invesco QQQ comprises 0.9% of Oppenheimer & Co. Inc.'s portfolio, making the stock its 15th largest position. Oppenheimer & Co. Inc.'s holdings in Invesco QQQ were worth $59,651,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. NWI Management LP grew its position 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 acquiring an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Invesco QQQ by 55,795.2% in the 1st 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 acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC lifted its stake in Invesco QQQ by 1,337.4% during 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 during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded up $1.87 during mid-day trading on Friday, reaching $548.09. The company's stock had a trading volume of 57,132,186 shares, compared to its average volume of 38,938,856. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $549.90. The business has a 50 day moving average price of $507.68 and a 200-day moving average price of $503.87.

Invesco QQQ Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.