Pallas Capital Advisors LLC Sells 796 Shares of Invesco QQQ (NASDAQ:QQQ)

Pallas Capital Advisors LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,184 shares of the exchange traded fund's stock after selling 796 shares during the quarter. Pallas Capital Advisors LLC's holdings in Invesco QQQ were worth $6,651,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC lifted its position 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 purchasing an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after acquiring an additional 756,990 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after purchasing an additional 568,120 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.1%

Shares of QQQ traded up $0.78 during mid-day trading on Monday, hitting $530.70. 33,460,220 shares of the company's stock were exchanged, compared to its average volume of 38,043,835. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The firm has a market cap of $332.56 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The stock's 50-day simple moving average is $483.20 and its 200-day simple moving average is $501.85.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a dividend of $0.7157 per share. 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.